Aptamer Group (LSE:APTA) reported a 28% increase in full-year revenue to £1.5 million, supported by demand for its Optimer technology and repeat development contracts with pharmaceutical customers.
The AIM-listed biotechnology company also reported a year-end cash balance of £4.4 million following a £4.1 million equity fundraising, while its adjusted EBITDA loss widened slightly to £2.3 million as administrative expenses increased.
The company said the additional funding provides visibility over its financing requirements into 2028, based on the board’s current expectations.
Revenue growth reflected activity across Aptamer’s development services and commercial partnerships, including projects involving several of the world’s 20 largest pharmaceutical companies.
The group develops synthetic binding molecules known as Optimers, which are designed for applications in drug development, diagnostics, therapeutic delivery and industrial biotechnology.
During the financial year, Aptamer entered into royalty-bearing licensing agreements with Twist Bioscience and Alphazyme covering enzyme-modulating Optimer technology.
The agreements provide a framework for potential royalty income associated with the licensed technology, although the supplied update did not disclose their financial terms or expected revenue contributions.
The company also advanced work on folic acid testing technology supported by the Gates Foundation, targeting applications in food fortification testing.
The programme forms part of Aptamer’s diagnostics activities, which use synthetic binders to identify and measure specific biological or chemical targets.
Aptamer additionally completed a second development programme with Unilever, extending its work with the consumer goods company.
The group has been developing commercial opportunities across pharmaceutical, diagnostic, enzyme and cosmetics applications, combining customer-funded research with licensing arrangements.
Alongside these activities, Aptamer continued investing in its artificial intelligence-assisted discovery platform.
The company said it accelerated development of the technology to support the identification and optimisation of Optimer binders for customer projects and internal development programmes.
Additional automation was introduced to increase binder manufacturing capacity and support a greater volume of development and production activities.
Aptamer also reported progress across several therapeutic delivery programmes, including work involving fibrotic liver tissue, kidney-targeting delivery vehicles and targeted radiotherapeutic applications.
These programmes are intended to investigate the use of Optimer technology in directing therapeutic compounds towards specific biological targets.
The company is developing these applications alongside its established fee-for-service activities, with the aim of creating technologies that could be licensed to commercial partners.
Following the financial year-end, Aptamer reported an increase in its sales pipeline from £4.8 million to £7.0 million.
The £2.2 million increase represents growth of approximately 45.8% in the value of prospective commercial opportunities identified by the company.
The pipeline figure represents potential business opportunities rather than contracted revenue, and the timing and value of future agreements will depend on customer decisions and contract negotiations.
Aptamer said it is working to establish multi-year master service agreements with several pharmaceutical customers.
These arrangements are intended to provide a framework for recurring development work and potentially improve visibility over future project activity.
The company is also pursuing the development of its own intellectual property assets in enzyme and cosmetics applications, with the intention of securing additional licensing opportunities.
Management has identified a combination of service revenue, technology licensing and product supply as the basis of its commercial strategy.
Aptamer continues to target adjusted EBITDA break-even, although the supplied update did not specify a timetable for achieving that objective.
The company also appointed Cavendish Capital Markets as joint corporate broker following the year-end, adding to its capital markets advisory arrangements.
With revenue increasing to £1.5 million and cash of £4.4 million at the reporting date, Aptamer is continuing to invest in its discovery technology, manufacturing capabilities and commercial development programmes.
The group’s financial performance will depend on the conversion of prospective contracts into revenue, progress under existing customer agreements and the contribution from licensing and supply activities.
About Aptamer Group Plc
Aptamer Group plc is a UK-based biotechnology company listed on AIM under the ticker LSE:APTA.
The company develops synthetic binding molecules known as Optimers, which are designed to recognise and bind to specific biological and chemical targets.
Its technology is used in applications including pharmaceutical research, therapeutic delivery, diagnostics, enzyme modulation and cosmetics.
Aptamer provides customised binder development services to biotechnology and pharmaceutical companies while also developing proprietary technologies for potential commercial licensing.
The group’s business model combines fee-for-service research and development contracts, royalty-bearing licensing agreements and product supply activities.
Its development programmes include targeted therapeutic delivery, radiotherapeutic applications and diagnostic testing technologies.
Aptamer is also investing in artificial intelligence-assisted discovery methods and automated manufacturing processes to support binder development and production.
The company works with commercial and research partners across the life sciences industry, including pharmaceutical businesses and organisations developing diagnostic and industrial biotechnology applications.
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