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Proteome Sciences sees shares surge on SysQuant service launch

Mon, 02nd Oct 2023 10:17

(Alliance News) - Proteome Sciences PLC on Monday launched SysQuant SCP, a commercial service for single cell proteomics using isobaric labelling reagents.

Proteome is a London-based protein-focused drug development services provider. Shares in the firm were up 13% at 7.15 pence each in London on Monday morning.

SysQuant and TMT MS2 are unbiased methods for identifying and contextualising new targets and defining mechanisms of biological activity.

SysQuant can identify more than 1,000 proteins in each study of 576 single cells. By contrast, more traditional approaches measure only a few tens of proteins on each cell.

According to Proteome, data from the SysQuant pipeline will "greatly improve" our understanding of the biological drivers of heterogeneity and evolution in the contexts of disease and response to therapy.

In turn, this will help to offer new therapeutic and diagnostic targets for personalised medicine.

"We are pleased to be one of the first CROs providing single cell proteomics to our customers. The launch of SysQuant SCP is part of our growth strategy along with the opening of a US facility in San Diego," said Chief Executive Officer Mariola Soehngen.

"We believe that broadening our range of services and increasing capacity are essential as the wider pharmaceutical industry increasingly recognises the need to study changes in protein expression and function to further advance and accelerate the drug development process."

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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1 Jun 2023 16:43

IN BRIEF: Proteome Sciences repays GBP824,400 loan in full to Vulpes

Proteome Sciences PLC - London-based drug development services provider - Says it has repaid in full its outstanding loan and associated interest, totalling GBP824,424, to Vulpes Investment Management Private Ltd, as originally announced in July 2018 and amended in March last year.

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17 May 2023 14:45

TRADING UPDATES: Proteome Sciences revenue up; Mpac sees improved 2023

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12 May 2023 11:07

Proteome Sciences to open new San Diego facility

(Sharecast News) - Proteomics service provider Proteome Sciences announced its plan to expand operations into the United States on Friday, with a new facility to be located in San Diego, California.

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12 May 2023 10:23

Proteome Sciences expanding to US with San Diego facility

(Alliance News) - Drug development services provider Proteome Sciences PLC said it is expanding its proteomics services to the US, opening a facility in San Diego.

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4 Apr 2023 11:44

Proteome Sciences reports solid growth in 2022

(Sharecast News) - Biotechnology company Proteome Sciences reported total revenues of £7.78m in its final results on Tuesday - a significant year-on-year increase from £5.13m.

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4 Apr 2023 10:16

Proteome Sciences full-year revenue rises; profit multiplies

(Alliance News) - Proteome Sciences PLC on Tuesday said revenue was up by half, and profit multiplied in 2022.

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20 Feb 2023 11:33

Proteome FY revenues rise, operating costs increase

(Sharecast News) - Shares in contract proteomics services provider Proteome said on Monday that it now expects full-year operating costs to have risen amid, offsetting revenue growth amid an increased investment in staffing and equipment.

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20 Feb 2023 10:24

Proteome Sciences shares surge after strong growth in 2022

(Alliance News) - Proteome Sciences PLC on Monday said it has experienced strong growth in both its services and TMT business, with a strong forward order book secured.

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5 Jan 2023 16:31

Proteome gets milestone payment from Thermo Scientific

(Sharecast News) - Proteome Group announced a milestone payment for sales of 'TMT' and 'TMTpro' on Thursday.

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IN BRIEF: Proteome Sciences reaches "sales milestone" from contract

Proteome Sciences PLC - drug development services provider - Achieves "cumulative sales milestone" with life sciences company Thermo Fisher Scientific Inc. Says a payment of GBP870,000 has been received by the company and will be recognised in the 2022 financial year. Proteome Sciences has an exclusive licence and distributor agreement with Thermo Scientific.

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18 Aug 2022 09:41

IN BRIEF: Proteome Sciences hires Abdelghani Omari as new CFO

Proteome Sciences PLC - drug development services provider - Says it has hired Abdelghani Omari as its new chief financial officer, effective on September 1. Says he will also become the director of the company. Proteome says Omari will join from speciality pharmaceutical company Paion AG, where he has been the chief financial officer since 2014.

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4 Aug 2022 12:33

Proteome Sciences shares rise 10% after swing to interim profit

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