(Alliance News) - Aptamer Group PLC on Monday reported progress on all three of its strategic objectives.
In a trading update, the York, England-based biotechnology firm said it remains focused on achieving earnings before interest, tax, depreciation and amortisation and and cash break-even position within two years.
Aptamer also highlighted progress on implementing platform process improvements, and on generating marketing data and increasing commercial traction by broadening the service offering to the market.
Since the announcement of its half-year results at the end of March, Aptamer said it had made significant progress on its new platform technology, Optimer+, through an initial soft launch and agreement of the first commercial sale.
Patents have been filed to protect the Optimer binders developed in partnership with Unilever PLC for use in cosmetics applications to support ongoing commercial discussions between the two companies, with further testing underway, it said.
A follow-on deal has been signed with Neuro-Bio to develop a second Optimer binder to enable a wholly Optimer-powered lateral flow test for the early detection of Alzheimer's disease.
Aptamer said its current sales pipeline is strong, with over GBP3.0 million in advanced stage discussions.
A proportion of these advanced stage deal negotiations is anticipated to progress through the laboratory before the end of the financial year.
This anticipated deal value is in addition to the around GBP1.4 million of existing signed deals already at various stages of completion in the production laboratory.
Shares in Aptamer fell 4.0% to 0.70 pence in London on Monday.
By Jeremy Cutler, Alliance News reporter
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