7 July 2023

Aptamer Group plc

Contract wins

Aptamer Group plc (AIM: APTA), the developer of novel Optimer^® binders to enable innovation in the life sciences industry, today provides an update on recent contract wins amounting to up to £507,000 over the next six months.

After a difficult 12 months, the Company is pleased to be able to report four new contacts signed in the last three weeks. All four contracts relate to FY24 and were included in the pipeline set out in the trading update announced on 4 July 2023, and represent an important early contribution towards reaching the Company's revenue targets for the year ending 30 June 2024. The combined value of up to £507,000 represents total contract value, and the final value to be recognised as revenue will be subject to scientific attrition as the contracts progress.

·      The first contract is with a top ten pharmaceutical company that requires Optimer binders to support a bioprocessing application. As part of this agreement, Aptamer Group will develop Optimer binders to enable new methods to purify gene therapies. Following successful Optimer development and customer validation, there is potential for additional downstream licensing revenue.

·      The second contract is to support a US-based gene therapy company with Optimer binders to a key target in neurodegenerative disease. Aptamer Group will develop Optimer binders to enable reliable measurements of a disease biomarker in the Company's research immunoassays. The Optimer binders will be used with an antibody in a sandwich pair format to advance neuroscience disease research.

·      The third contract is with a US-based genetic medicine company to generate Optimer binders for two viral targets. The developed Optimer binders will be critical reagents in QC assays to enable batch release of new medicines. Following the successful development of the Optimer binders, there is potential for further downstream licensing revenue should the binders be integrated into the Company's processes.

·      The final contract signed is a follow-on deal with a US-based vaccine development company. Following initial positive results in an earlier project, as part of a new agreement, Aptamer Group will develop Optimer binders to viral targets to improve the selectivity and enable multiplex analysis in QC assays. Again upon successful customer validation of the developed Optimer binders, there is potential for further downstream licensing revenue if the binders are used as critical reagents within the intended assays.

As noted in the trading update issued on 4 July 2024, the Group's unaudited cash balance at the end of June was £0.2 million. In addition to trading income, 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 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.

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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.