Market demand puts biotech firm in good health

A biotech firm says it is primed for growth after a “pivotal” year of royalty and licensing deals.

Aptamer Group says a slew of lucrative agreements with biotech operators and an education provider “pave the way for sustained, scalable, global revenue streams”.

Bosses unveiled the buoyant outlook today (Thursday, July 31) in a trading update for the year to June 30, which showed unaudited revenues had increased by more than 40 per cent to £1.20 million.

It held a year-end cash position of £1.06 million, which was further strengthened post-period end by a £1.83 million fundraise.

The York-based operator’s progress was boosted by a royalty agreement with biotech firm Neuro-Bio on sales of diagnostics targeting Alzheimer’s disease using its Optimer-branded antibody alternative molecules.

The deal will see Aptamer Group receive a blended royalty rate of 11.1 per cent on the first £166 million of sales, followed by five per cent on all subsequent sales.

The firm also signed an agreement of ten per cent on all relevant sales with the University of Glasgow for the use of Optimers in vaccine ingredients.

Further deals were struck with a global enzyme supplier for the licensing of a developed enzyme-modulating Optimer, with a proposed royalty rate of ten per cent on Optimer-enabled products, and with a synthetic biology company for licensing of a developed enzyme-modulating Optimer.

And officials say the company is working on product evaluation with another multinational biotech company, “which could result in another licensing and royalty agreement”. 

Hailing its progress, Dr Arron Tolley, chief executive, said: “This year has been pivotal as we have started converting our innovative technologies into high-value commercial partnerships and repeat business from industry leaders. 

“The repeat business and technical milestones underscore the broad applicability and value of our platform. 

“And after an oversubscribed successful fundraise, we are strongly positioned to advance our pipeline in licensing revenues and technical development.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.