Trading Statement

RNS Number : 0446W

Proteome Sciences PLC

22 January 2013

 



Proteome Sciences plc

("Proteome" or the "Company")

Trading Update

22^nd January, 2013- The Directors of Proteome provide the following trading update.

Following the Company's announcement on 31 December 2012(RNS: 4741U), regarding the improved cognitive function demonstrated by Proteome's CK1D compounds, the Board has been pleased by the strong interest it has received from pharmaceutical companies.  The Board is actively pushing the CK1D programme forward with the pharmaceutical industry in order to be able to bring the compounds to clinical trials.  Discussions have commenced to out license the CK1D programme as soon as possible in 2013 and the Directors expect that the novel nature of the compounds in the tau pathway should materially increase the Company's IP asset value.  Industry benchmarks indicate that these should command considerable license fees, milestones and royalties.  Analysis of the 1,000 Alzheimer's patient sample set with King's College is on-going and further results will be announced when the data processing is completed.

The Directors are encouraged by the trading prospects for the PS Biomarker Services™ division although they are disappointed that the signing of the largest services contract negotiated by the Company to date which had been expected to close at the end of 2012 has been delayed and is now expected to be concluded in Q1 2013.  As a result of this delay there will be an adverse impact on the Company's results for the year ended 31 December 2012 although this will have a correspondingly positive effect on the Company's expectations for FY13.

Christopher Pearce, the Company's Chief Executive Officer, has confirmed his willingness to provide additional working capital should it be required, by way of a short term loan of up to £1 million. This would be repayable post receipt of the proceeds of the major contract referred to above.

One of the Board's main objectives for FY 2013 is outlicensing the Company's proprietary IP.  The single use of GSTP in blood as a test to confirm a stroke within 15 minutes and its ability to potentially increase the most effective thrombolytic treatment rt-PA more than fivefold has now extended the licensing discussions to pharma, in addition to the major diagnostics companies which have already been targeted for the Company's existing stroke panels.  This is expected to materially increase Proteome's licensing activities.

The Board expects strong revenue growth across the Company's three main divisions in 2013 and looks to the future with confidence.

- Ends -

For further information please contact:

Proteome Sciences plc
Christopher Pearce, Chief Executive Officer	Tel: [phone]
Dr. Ian Pike, Chief Operating Officer James Malthouse, Finance Director
Nominated Adviser
Cenkos
Stephen Keys/Camilla Hume	Tel: [phone]
Public Relations
FTI Consulting	IKON Associates
Ben Atwell / Simon Conway / Mo Noonan	Adrian Shaw
Tel: [phone]	Tel: [phone]

Notes to Editors:

About Proteome Sciences

Proteome Sciences is a global leader in applied proteomics and peptidomics offering high sensitivity, proprietary technologies for protein and peptide biomarker discovery, validation and assay development.

Its PS Biomarker Services™ uses isobaric and isotopic Tandem Mass Tag^® (TMT^®) workflows developed on the latest Orbitrap Velos and TSQ Vantage mass spectrometers to deliver rapid, robust and reproducible biomarker assay development for customers in the pharmaceutical, diagnostic and biotechnology sectors. Services are provided from its ISO 9001: 2008 accredited facilities in Frankfurt, Germany. By combining Selected Reaction Monitoring (SRM) and TMT^® workflows highly multiplexed assays can be developed rapidly and are suitable for screening hundreds of candidate biomarkers in larger validation studies and can be transferred for immunoassay development. The Company's own research has discovered a large number of novel protein biomarkers in key human diseases and is focused mainly in neurological/neurodegenerative conditions and in cancer. It has discovered and patented blood biomarkers, including Alzheimer's disease, stroke, brain damage and lung cancer for diagnostic and treatment applications that are available for license or are already outlicensed. Proteome Sciences, based in Cobham, UK, with facilities in London and Frankfurt, delivers outsourced proteomics services and proprietary biomarkers/biomarker assays to pharmaceutical, biotechnology and diagnostics companies.

Visit:  http://www.proteomics.com

 

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