Aptamer Group (APTA), a developer of Optimer binders for the life sciences industry, has announced recent contract wins totaling £507,000 over the next six months.
These wins come after a challenging year for the company. Four new contracts have been signed, all of which contribute to the company's revenue targets for the year ending June 30, 2024. The contracts include partnerships with a top pharmaceutical company, a US-based gene therapy company, a US-based genetic medicine company, and a US-based vaccine development company.
These contracts involve the development of Optimer binders for various applications, such as gene therapy purification, disease biomarker measurement, and quality control assays for new medicines.
Aptamer Group also said it is actively exploring financing options to ensure its ongoing operations, given its unaudited cash balance of £0.2 million at the end of June.
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Aptamer Group specialises in developing custom affinity binders using its unique Optimer® platform. These binders, known as Optimer binders, are oligonucleotide affinity ligands that serve as an alternative to antibodies. They are designed to overcome limitations associated with traditional affinity molecules and provide novel solutions for bioprocessing, diagnostics, and pharmaceutical applications.
With the global affinity ligand market valued at over $170 billion, Optimer binders offer innovative approaches for scientists in various fields, including therapeutics, diagnostics, and research.
Optimer binders can be used to address a broad range of unmet medical needs, in turn accessing multiple lucrative markets. Among these is its partnership with biotech company Neuro-Bio to develop an Alzheimer's disease diagnostic test, potentially diagnosing the disease 10-20 years before symptoms appear and providing significant cost savings for healthcare systems.
Despite Apamer’s string of contract wins, the company will need to maintain focus on its plans for funding. In Aptamer’s trading update released July 4th, the company said its cash balance at the end of June was £0.2 million, adding that in addition to trading income in July, further funding will be required in the short term in order to continue as a going concern.
In response, Aptamer’s directors are reviewing financing options and said it will continue to take steps to carefully manage its working capital.
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