Contract wins drive revenue growth at life sciences business
Aptamer Group, a York-based biotechnology company, has seen its revenues rise by 183% to £1.4m (H1 2021: £0.5m) in its interim results for the six months ended 31 December 2021.
It also recorded an EBITDA loss of £1m, partially offset by increased sales, due to investment in staff and capabilities (H1 2021: loss £1m).
The firm’s admission to the AIM market completed in December 2021, raising gross proceeds of £10.8m.
Aptamer aims to solve problems for biotech and big pharma by developing molecular binders called aptamers, as an alternative to antibodies.
Arron Tolley, chief executive officer, said: “Aptamer Group has delivered strong revenue growth during the first half, driven by increases in contracts won across all business units and good operational performance to progress our custom services.
“This has reinforced that there is both market need and demand for aptamer technology to support innovation across the life science industry and that Aptamer Group has a clear, differentiated technology offering.
“The strong performance of the business, together with key R&D initiatives and the Group’s strong financial position, positions Aptamer Group to take advantage of a growing market.”
Highlights of the period for Aptamer included a contract with a top five global pharma company to develop Optimer binders to support the development of a novel neurodegenerative disease vaccine.
Aptamer says it expects increasing revenues in the second half of the year as many of its current development projects approach near completion.
It has also forecast further partnering progress and new partnerships for the second half, noting that global demand for its services continues to strengthen across the life science market.
