Trading Update

RNS Number : 3772Q

Proteome Sciences PLC

29 February 2016

 

PRESS RELEASE

Trading Update

After closing 2015 with a good increase in revenues in the second half, the current year has started well with a strong order book and a growing pipeline in biomarker services. Following the addition of a further Fusion mass spectrometer in Q4 that doubled the levels of SysQuant®/TMTcalibrator™ production, the increased capacity is being fully utilised in 2016 with four customer projects completed and the volume of customer enquiries rising on a monthly basis. Importantly we are also gaining more repeat business with two significant service contracts signed using SysQuant® and TMTcalibrator™ together totalling £500,000 and with further contracts in discussion.  These revenues will fall into the current financial year.

In partnering, we have got off to an active start with prospective licensees for our CK1d compounds to go through the compelling results announced in November for the acute phase study in a different model of Alzheimer's disease that mimicked the effects of the previous chronic study completed in tau. We have been informed that the CE blood test for stroke is on track to be launched by Randox during the year with commensurate milestones payable under the terms of the license. In addition we have the prospect of further non-exclusive licenses to follow. TMT® showed good growth again in 2015 and is expected to continue to increase market share and benefit from the introduction of higher plexing rates in 2016.

We are delighted that the encouraging trends and growth across the business in 2015 have continued into the new year. Proteome Sciences remains firmly on track to deliver a significant increase in revenue from biomarker services and TMT® in 2016 and the possibility  of further services contracts and developments in licensing .

ENDS

For further information please contact:

Proteome Sciences plc
Christopher Pearce, Executive Chairman
Dr. Ian Pike, Chief Operating Officer	Tel: [phone]
Geoff Ellis, Finance Director
finnCap Limited (nominated adviser & broker) Geoff Nash/James Thompson	Tel : [phone]
Public Relations
IKON Associates	Email: [e-mail]
Adrian Shaw	Tel: [phone]
	Mobile [phone]

Notes for editors:

About Proteome Sciences plc (www.proteomics.com)

With its HQ in Cobham, UK and laboratory facilities in London and Frankfurt, Proteome Sciences is a global leader in applied proteomics offering high sensitivity, proprietary technologies and workflows in cell signalling pathways and in protein biomarker discovery, validation and assay development.

Proteome Sciences' research has discovered a large number of novel protein biomarkers in key human diseases with a focus mainly in neurological/neurodegenerative conditions and in cancer. It has patented blood biomarkers in Alzheimer's disease, stroke, brain damage and cancers for diagnostic and treatment applications that are available for licenses.

PS Biomarker Services^® provides proteomics outsourcing services and proprietary biomarker assays from its ISO 9001: 2008 facility in Frankfurt, Germany to pharmaceutical, biotechnology, diagnostics companies and academia.

 

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