Proteome Sciences (LSE:PRM) has secured £840,000 through a placing and subscription involving 48 million new ordinary shares priced at 1.75p each, equivalent to roughly 14% of the company’s enlarged share capital. The group also plans to raise up to a further £60,000 from retail investors at the same price via the BookBuild platform.
Operational and financial highlights
The new capital will be directed toward expanding the company’s proteomics offering and supporting recent commercial momentum. Planned initiatives include scaling TMT plexing capacity to 96-plex, rolling out new DXT isotopic tagging products, and introducing solvent-shift chemoproteomic workflows. The company also expects to complete a DXT licence agreement, increase headcount, and expand mass spectrometry capabilities at its San Diego operations, alongside providing additional working capital. These investments follow a series of sizeable GCLP contract wins and new biopharma partnerships across Europe and the United States.
Major shareholder Vulpes Life Science Fund and Chief Commercial Officer Richard Dennis participated in the fundraising, with the transactions classified as related-party dealings and assessed as fair and reasonable by independent board members. Separately, Executive Chairman Christopher Pearce has agreed to amend the terms of his £5 million loan facility by increasing the conversion price from 1p to a minimum of 4p per share, a move intended to limit future dilution as the newly issued shares are admitted to trading in London.
From a market perspective, the company continues to face pressure from weak underlying financial metrics, including negative profitability, shareholders’ equity, and operating and free cash flow. Technically, the share price remains above key moving averages with a positive MACD signal, although a high RSI suggests near-term overbought conditions. Valuation metrics remain constrained, with a negative P/E ratio and no dividend yield.
More about Proteome Sciences
Proteome Sciences plc is a UK-based life sciences company quoted on AIM, specialising in proteomics services and technologies for biopharmaceutical clients in Europe and the United States. Its portfolio includes Tandem Mass Tag (TMT) and DXT isotopic tagging solutions, as well as advanced chemoproteomic workflows. The group is expanding its operational presence, particularly in San Diego, to capitalise on rising demand in the global proteomics market, which is forecast to grow strongly through to 2030.
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