Revenues up 150% at expanding life sciences company
Aptamer Group, which develops molecular binders called aptamers as an alternative to antibodies, has reported revenue growth of about 150% in its full year trading update.
The York-based life sciences company expects to report revenue for the year ended 30 June 2022 of around £4m, (15 months period to 30 June 2021: £1.6m) which is in line with market expectations.
The business says its growth is due to strong operational performance, including contract wins and extensions across all three of its business units.
Arron Tolley, chief executive officer, said: “We are pleased with the pace of progress over the past six months, having seen success in expanding our current partnerships and winning new contracts, which has delivered financial performance in line with market expectations.
“We are anticipating growing demand as Pharma and Biotech increasingly outsource the development of enhanced binders for delivery of new generations of therapeutics.
“To support our strategic objectives, we are increasing headcount across the business and expanding business development activities.
“We are looking forward to moving to our new, larger premises, with purpose-built automation which will enable us to deliver more projects efficiently to our growing customer base.”
Aptamer had cash at 30 June 2022 of £6.7m (30 June 2021: £0.4m, 31 December 2021: £9.8m), ahead of market expectations.
The business is now preparing for a planned relocation to larger premises in York, with the move expected to complete by the end of 2022.
Its move to a set of purpose built laboratories will enable Aptamer to scale its operations and streamline workflows, to more efficiently deliver projects and meet an increase in demand for Optimer binders from both new and existing customers.
Aptamer’s admission to the AIM market completed in December 2021, raising gross proceeds of £10.8m.
