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DeepMatter 2018 Loss Widens As It Develops DigitalGlassware Platform

Fri, 12th Apr 2019 09:29

LONDON (Alliance News) - DeepMatter Group PLC on Friday reported widened loss for 2018 as it continued to invest in development of DigitalGlassware platform.

DigitalGlassware is designed to enable scientists to collaborate effectively by sharing the details of their experiments from anywhere and in real-time.

The AIM-listed company focusing on digitizing chemistry said pretax loss widened in 2018 to GBP2.0 million from GBP1.6 million a year prior, due to an increase in operating expenses.

Research & development costs rose to GBP1.4 million from GBP1.2 million year-on-year, while administrative expenses almost doubled to GBP600,000 from just GBP356,000.

Deepmatter did not generate any revenue in either year.

During 2018, the company partnered with, and continues to work with, a total of seven organisations across three continents for its DigitalGlassware pioneer programme.

To date, the DigitalGlassware platform has been used to collect data from over 900 days of chemistry research across over 1,100 individual experimental runs.

"I'm pleased to say our technology is now deployed on a trial basis with several of the world's premier scientific organisations, with good engagement," said Chief Executive Mark Warne.

"Alongside this the company has begun to identify unique chemistry insights, which we will use to create intellectual property and share with the wider scientific community in due course, as further proof of the validity of the platform," added Warne.

DeepMatter shares were trading 3.1% higher on Friday at 2.99 pence each.

More News
5 Jan 2023 13:13

IN BRIEF: DeepMatter Group delists from London's AIM

DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - AIM listing cancelled with effect Thursday.

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12 Dec 2022 15:43

UK shareholder meetings calendar - next 7 days

Tuesday 13 December 
Amedeo Air Four Plus LtdAGM
Avation PLCAGM
Blancco Technology Group PLCAGM
JD Sports Fashion PLCGM re remuneration policy
Macau Property Opportunities Fund LtdAGM
Softcat PLCAGM
Spectris PLCGM re remuneration policy
Wednesday 14 December 
Fidelity Special Values PLCAGM
Kistos PLCGM re new non-operational entity
Parsley Box Group PLCGM re proposal to become a private limited company
TP Group PLCGM re cash acquisition
Volution Group PLCAGM
Westpac Banking CorpAGM
Thursday 15 December 
Aeorema Communications PLCAGM
Argos Resources LtdAGM
Baillie Gifford Japan Trust PLCAGM
Capricorn Energy PLCGM re proposed share premium account cancellation
Chelverton Growth Trust PLCAGM
CQS Natural Resources Growth & Income PLCAGM
DX Group PLCAGM
DXS International PLCAGM
Glenveagh Properties PLCEGM
Secured Income Fund PLCGM re proposed reduction of capital
Schroder Income Growth Fund PLCAGM
Friday 16 December 
Bellway PLCAGM
Inchcape PLCGM re Derco acquisition
JPMorgan Global Growth & Income PLCGM re proposed combination with JPMorgan Elect PLC
National Australia Bank LtdAGM
Sareum Holdings PLCAGM
Thor Explorations LtdAGM
UP Global Sourcing Holdings PLCAGM
Monday 19 December 
Abingdon Health PLCAGM
Brand Architekts Group PLCAGM
China Nonferrous Gold LtdAGM
DeepMatter Group PLCGM re ordinary shares cancellation
Mila Resources PLCAGM
Purplebricks Group PLCGM re chairman replaced by Harry Hill
Renalytix PLCAGM
RTW Venture Fund LtdEGM
Star Phoenix Group LtdGM re resolution to approve change of auditor
Technology Minerals PLCAGM
Visum Technologies PLCAGM
  
Copyright 2022 Alliance News Ltd. All Rights Reserved.

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1 Dec 2022 14:54

DeepMatter proposes AIM share cancellation, launches fundraise

(Alliance News) - DeepMatter Group PLC said on Thursday it proposes a cancellation of its shares from AIM, while also raising funds in a share issue via subscription among principal shareholders.

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24 Nov 2022 13:54

DeepMatter shares plunge as board proposes delisting

(Sharecast News) - DeepMatter Group said in an update on Thursday that it has been in discussions with its major shareholders and potential institutional investors in relation to securing capital to fund its future working capital requirements.

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24 Nov 2022 11:15

AIM WINNERS & LOSERS: UOG well disappoints; Arkle finds pegmatites

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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24 Nov 2022 10:27

DeepMatter eyes delisting; sees better capital chances as private firm

(Alliance News) - DeepMatter Group PLC on Thursday said its board decided that as a private limited company it would have greater prospects to raise additional capital.

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24 Nov 2022 09:17

LONDON MARKET OPEN: Mid and small caps outperform

(Alliance News) - The FTSE 100 index was underperforming other European stock market measures at the open on Thursday, while London's midcap and smallcap listings were off to a more positive start.

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26 Oct 2022 14:21

DeepMatter expects revenue to rise as signs deal with Germany's Merck

(Alliance News) - DeepMatter Group PLC on Wednesday said it expects to see a substantial increase in revenue as it signed a licensing agreement with Germany's Merck KGaA that could become one of its largest deals so far.

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25 Aug 2022 13:36

IN BRIEF: DeepMatter interim loss widens as costs outpace revenue

DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - Posts widened loss as research & development and sales cost widen. Pretax loss in the half-year that ended June 30 increases to GBP1.9 million from GBP1.5 million a year prior. Revenue grows to GBP678,000 from GBP649,000. Research & development costs increase to GBP1.1 million from GBP856,000. "The group continued to invest in enhancing products and people to support our revenue growth in the second half-year. We made good progress along development roadmaps, focusing on the commercial appeal of products," DeepMatter explains. Administrative costs grow to GBP1.2 million from GBP1.0 million.

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28 Jun 2022 11:43

DeepMatter buys AI specialist ChemIntelligence for up to GBP420,000

(Alliance News) - DeepMatter Group PLC on Tuesday said it has bought Lyon, France-based artificial intelligence company ChemIntelligence SAS.

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23 May 2022 13:59

IN BRIEF: DeepMatter hires former IP Group CEO as non-executive chair

DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - Hires former IP Group PLC chief executive Alan Aubrey as its own non-executive chair ahead of an annual general meeting due to take place on May 27. Aubrey will replace Karen Bach, who is retiring from the board and leaving the company.

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20 May 2022 13:13

DeepMatter renews contract with research publisher Springer Nature

(Sharecast News) - Digital chemistry data and software company DeepMatter has renewed its long-term commercial relationship with global research publisher Springer Nature, it announced on Friday, for a further three years.

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20 May 2022 10:53

IN BRIEF: DeepMatter gets 3-year deal extension with Springer Nature

DeepMatter Group PLC - Glasgow, Scotland-based digital chemistry data company - Renews long-term commercial relationship with research publisher Springer Nature for another three years, which is expected to produce a revenue of at least EUR206,000 during the term. The contract supports Springer Nature in handling proprietary data used for its academic and industry customers. DeepMatter Chief Executive Officer says: "Springer Nature is committed to supporting researchers in sharing research data and we are delighted to be working with them to provide products and services making sharing research data faster, easier and more impactful."

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11 May 2022 15:34

TRADING UPDATES: Zephyr, TransGlobe sales up; DeepMatter wins deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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11 May 2022 12:54

DeepMatter signs second deal with South Korea's Standigm

(Sharecast News) - Digital chemistry and software company DeepMatter has signed a second multi-year licensing and collaboration agreement with Standigm, it announced on Wednesday.

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