Aptamer Group plc (AIM: APTA), the developer of novel Optimer® binders to enable innovation in the life sciences industry, has announced its unaudited interim results for the six months ended 31 December 2024 (H1 2025).
Financial highlights
· Revenue £0.7 million (H1 2024: £0.3 million).
· Adjusted EBITDA loss of £1.1 million (H1 2024: £1.8 million).
· Cash balance at 31 December 2024 of £2.0 million (H1 2024: £1.8 million).
· Successful fundraising in August 2024 of £2.6 million (net) at 0.2p per share.
· Completed a further reduction of the fixed cost base to circa £3.0 million per annum during the period.
Operational highlights
Board changes and strategic focus
· In August 2024, the Board was restructured with Dr Adam Hargreaves appointed as Non-Executive Chairman, Dr Arron Tolley re-appointed as Chief Executive Officer, Andrew Rapson appointed to the Board as Chief Financial Officer.
· In September 2024, Tim Sykes was appointed to the Board as Non-Executive Director.
· New strategic approach launched with a focus on equity value creation through the development of high-value Optimer assets with licensing potential through commercial partners supplemented by short-term revenues from fee-for-service work.
Optimer programmes
· Contract with Unilever extended in September 2024 to enable testing of deodorant Optimers in on-person trials.
· Deodorant Optimer trials initiated on human skin with Unilever, on schedule, in Q4 2024 with promising initial stability results.
· Binders for Neuro-Bio’s novel Alzheimer’s disease target have been validated in clinical samples to the highest level of statistical significance (1:100,000 probability of occurring by chance).
· Agreement with AstraZeneca in July 2024 to explore fibrotic liver delivery vehicle for the targeted delivery of AstraZeneca’s siRNA payload.
· In vitro portion of the AstraZeneca programme was completed in December 2024, showing successful selective delivery of siRNA and gene silencing.
· In-house demonstration of the fibrotic liver delivery vehicle with specific siRNA molecules targeting the mechanism of fibrosis. Data shows ability of system to reverse markers of liver fibrosis, suggesting a potential therapeutic approach.
Fee-for-service development
· Contract with genetic medicines partner progressed to final stages of development for Optimer delivery vehicles in November 2024, following customer validation of target selectivity and demonstration of pan-species binding.
· Multiple agreements with top 20 pharmaceutical and leading biotechnology companies for Optimer development as critical reagents to support therapeutic development programmes.
· Extension contract signed with top 20 pharmaceutical partner in December 2024 for the optimisation of developed binders to protein purification.
· Successfully developed binders as part of a Eurostars grant project for use in a medical device for improved non-invasive prenatal testing and the diagnosis of placental disease, with significant interest from commercial partners for potential licensing.
· Successful development of enzyme modulating Optimers for global life science enzyme provider, with licensing discussions underway.
Commenting on the interim results, Dr Arron Tolley, Chief Executive Officer of Aptamer Group, said: “I am pleased to report significant milestones across each of the Group’s asset development programmes. This includes the initiation of human skin trials with Unilever for our Optimer deodorant additives. We have also validated our binders for Alzheimer’s disease diagnostics with clinical samples with solid results. The Group’s internal focus on drug delivery is moving forward at pace with success in lab-based tests for our fibrotic liver delivery vehicle with AstraZeneca and other internal validation work using the same delivery vehicle, such as reversal of fibrosis markers using a different siRNA. These advancements reinforce the power of Aptamer’s platform and the Group’s ability to deliver commercially valuable molecules across a range of different areas.
Our fee-for-service pipeline has delivered success across multiple customer projects, creating additional valuable assets within the enzyme modulating reagent sector, where licensing discussions are currently underway. Furthermore, a second validated therapeutic delivery vehicle is now in the final stage of commercial development. These assets will add to Aptamer’s current portfolio, supporting downstream revenues and further demonstrating the strength of the Group’s discovery platforms. We are focusing on the commercial exploitation of numerous assets from a licensing perspective, which exemplifies the potential value of the Group’s platform and its progression towards generating passive income streams.
In addition to technical progress, Aptamer is beginning to deliver strong and sustainable commercial momentum, signing multiple new contracts with global market-leading pharmaceutical companies, many of which represent repeat business. With a solid cash position and an advanced-stage sales pipeline, we are well-positioned to continue executing the Group’s strategy, advancing assets towards commercialisation with partners, and delivering shareholder value.”
