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Bid:

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Market Cap: £5.44m

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Proteome Sciences secures $1m contract with pharmaceutical major

Mon, 20th Dec 2021 10:08

(Sharecast News) - Proteomics and biomarker research firm Proteome Sciences has secured a contract valued at more than £1.0m from an unnamed major pharmaceutical company.
Proteome said on Monday that the contract will see it analyse large cohorts of clinical samples from a phase three clinical trial, with work expected to start early in the first quarter of 2022 and the majority of revenue predicted to be generated in 2022.

Chief commercial officer Richard Dennis said: "We are delighted that Proteome Sciences has been selected as the biomarker CRO of choice for these ongoing clinical studies. The contract will take up a significant part of the expanded capacity that we have added to our services activities in 2022 and into 2023.

"Our proprietary proteomics services using Tandem Mass Tags (TMTpro) was key to selecting Proteome Sciences as was the intellectual property in our TMTcalibrator technique to boost the sensitivity of mass spectrometry in their selected sample types."

As of 1005 GMT, Proteome shares were up 6.12% at 5.20p.