Aptamer Group Regulatory News (APTA)

4 July 2023

Trading Update

Aptamer Group plc (AIM: APTA), the developer of novel Optimer® binders to enable innovation in the life sciences industry, today announces an update on trading and its working capital position.

Unaudited revenue for the year ended 30 June 2023 ("FY23") was approximately £1.75 million, which is in line with the comments made in the statement released by the Company on 5 May 2023. Looking ahead, the pipeline for fee-for-service revenues for the year to June 2024 ("FY24") currently stands at approximately £2.2 million across 30 discrete fee-for-service projects (after risk-adjustment for anticipated commercial and scientific attrition). Note that this figure only includes opportunities for which the Group has current visibility and further opportunities over the course of FY24 are expected to increase this figure. In addition, this figure does not include licensing opportunities which could make a meaningful upside contribution to revenue.

With a prudent view on the development of revenues from licence fee arrangements, the Group is targeting a reduction in operating cash outflow to below £3 million for FY24 (compared with more than £6 million for FY23) following a reset of the cost base, and to reach positive cash flow by the end of FY26, which will require approximately £6 million of revenue in FY26.

The Group's unaudited cash balance at the end of June was £0.2 million. In addition to trading income in July, further funding will be required in the short term in order to continue as a going concern. The Directors are actively reviewing all possible financing options that are in the best interests of the Company and its shareholders and continue to take steps to carefully manage its working capital. Whilst the Board is aiming for a satisfactory outcome of the financing there can be no certainty that these discussions will be successful, nor as to the terms or timing thereof.

Further updates will be provided as appropriate. 

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For further information, please contact:

Aptamer Group plc

Dr Rob Quinn +44 (0) 1904 217 404

SPARK Advisory Partners Limited - Nominated Adviser  

Andrew Emmott / Mark Brady / Adam Dawes +44 (0) 20 3368 3550

Liberum Capital Limited - Broker

Phil Walker / Richard Lindley / Ben Cryer / Cara Murphy +44 (0) 20 3100 2000

Consilium Strategic Communications

Matthew Neal / Lucy Featherstone +44 (0) 20 3709 5700

aptamergroup@consilium-comms.com

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

About Aptamer Group plc

Aptamer develops custom affinity binders through its proprietary Optimer® platform to enable new approaches in therapeutics, diagnostics, and research applications. The Company strives to deliver transformational solutions that meet the needs of life science researchers and developers through the use of its proprietary Optimer platform.

Optimer binders are oligonucleotide affinity ligands that can function as an antibody alternative. The global affinity ligand market is currently worth over $170 billion. Optimer binders are engineered to address many of the issues found with alternative affinity molecules, such as antibodies, and offer new, innovative solutions to bioprocessing, diagnostic and pharmaceutical scientists.

Aptamer has successfully delivered projects for global pharma companies, diagnostic development companies, and research institutes covering a range of targets and applications with the objective of establishing royalty-bearing licenses. Through the unique Optimer technology and processes, scientists and collaborators can make faster, more informed decisions that support discovery and development across the Life Sciences.