Headline: Aptamer Group Makes Strides in Optimer Development
York, England - Aptamer Group plc (AIM: APTA), a company developing Optimer® binders for the life sciences sector, has announced its full-year financial results, highlighting significant progress in strategic advances and partnerships related to licensing Optimer assets. For the year ending June 30, 2024, the company reported revenue of £0.9 million and significant growth in commercial activities in the second half of the fiscal year.
Aptamer Group is undergoing an active restructuring process, including board changes and cost reductions, to accelerate the achievement of its strategic objectives. In the last quarter, the company received orders worth £1.0 million, reflecting its revamped commercial operations and renewed momentum.
Notable developments during the year included enhanced collaboration with a leading pharmaceutical company for the licensing of critical reagents and a partnership with Unilever to test Optimer in deodorants. Additionally, the company advanced its lateral flow test development for early-stage Alzheimer's disease and collaborated with AstraZeneca on a fibrotic liver drug carrier.
Financially, the company increased its cash balance from £0.2 million to £0.9 million and reduced its adjusted EBITDA loss from £4.7 million to £2.8 million. Administrative expenses were also lowered from £5.0 million to £3.2 million. In late 2023, the firm raised £3.5 million in net proceeds from share issuances, with an additional £2.6 million secured post-period in August 2024.
Post-period activities included completing an Optimer drug carrier for a biotech company specializing in genetic medicines, which may have future licensing potential. The company also developed Optimer binders for a new prenatal diagnostic platform and holds ongoing contracts potentially worth £0.9 million.
CEO Arron Tolley emphasized the company's focus on asset development, commercial traction, and cost discipline. Technical advancements in immunohistochemistry and gene therapy drug delivery have increased commercial interest and encouraged collaborations with leading pharmaceutical companies.
The report illustrates Aptamer Group's strategic focus on developing and licensing Optimer technology and its disciplined approach to cost management, positioning itself for future growth.