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(Alliance News) - Proteome Sciences PLC said Thursday it expects full-year service revenue "significantly ahead of 2018" and announced that Chief Executive Officer Jeremy Haigh will be stepping down on December 31.
The life-science firm said its services platform continued to strengthen through the third quarter, with a record number of 43 quotes issued for new businesses.
"Customer interest in this services platform has never been greater and purchase orders with a value of more than GBP1.0 million have been secured so far in the second half for delivery over the coming 12 months," the company said.
Proteome said these orders should drive full year service revenues significantly ahead of 2018 and provide a strong start to 2020.
The company noted that revenue for TMT protein labelling reagents and kits continue to grow and ordering was in line with expectations during the third quarter and re-stocking will be undertaken in 2020.
"Of course, uncertainty resulting from the continuing Brexit debate has not yet helped the trading environment and, like many other UK-based SME's, the company has been working to mitigate the potential consequences of a no-deal exit," Proteome noted.
The company also announced that Haigh will be stepping down from the board and his position as chief executive officer on December 31.
Chief Scientific Officer Ian Pike will assume the role of interim CEO from January 1 in addition to his current responsibilities, while the search for Haigh's successor will begin immediately, the company said.
Christopher Pearce, chairman, said: " With the transition to a proteomic services business now completed, the board has agreed with Jeremy that after more than three years as our CEO it is time for a new leader to take the company through its next phase of development."
Proteome Sciences shares were up 17% in London at 2.98 pence each on Thursday afternoon.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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