Aptamer shares rise as inks two new contracts worth GBP235,000

Mon, 24th Jun 2024 11:48

(Alliance News) - Aptamer Group PLC shares rose on Monday, after it said it has won two new contracts, worth GBP235,000.

Shares in the York, England-based biotechnology firm were up 4.1% to 0.73 pence each on Monday morning.

The first contract, valued at up to GBP175,000, is with an unnamed firm, which it called a "top five pharmaceutical company."

As part of this contract, Aptamer will develop Optimer binders for use in immunohistochemistry applications.

The second contract, valued at up to GBP60,000, is with a "global provider of specialty enzymes used widely throughout the life sciences sector." It left the firm unnamed.

Aptamer will develop Optimer binders as novel reagents to be incorporated into the partner's life science and diagnostic assay kits.

"Through a non-exclusive licence for the developed Optimer, Aptamer Group will earn milestone payments upon successful commercialisation and downstream high single digit royalties from the gross sales of all kits containing the developed Optimer," it noted.

Sales could commence as early as 2025.

Chief Technical Officer Arron Tolley said: "The repeat business from another of our top-five pharma partner validates the power of the Optimer platform to solve intractable problems associated with traditional ligands like antibodies in the area of immunohistochemistry and supports our new business and patenting strategy. These smaller royalty bearing agreements to develop Optimer binders aligns with our business model to develop a diversified pipeline of technologies to deliver licence agreements across the life science sector."

By Sophie Rose, Alliance News senior reporter

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Aptamer Group