Aptamer Group PLC

Signs material agreement with genetic medicines company

By Elric Langton | 14 December 2023

I have a financial interest in Aptamer Group.

Aptamer Group plc, known for concocting those nifty Optimer® binders that supposedly spark innovation in the life sciences sector, has announced a material agreement with a biotech firm dabbling in genetic medicines.

As of year-end, Aptamer’s coffers looked rather bleak, with a mere £200k left, a steep tumble from the £6.7 million they boasted in 2022. Sure, they’ve had a bit of a lifeline with post-year-end equity placings injecting a not-too-shabby £3.5 million, but let’s not kid ourselves – it’s hardly a long-term solution to the rather alarming cash burn.

Under this new deal, Aptamer Group will employ its proprietary platform to rustle up some Optimer binders to target genetic medicines to specific cell types. They’re set to pocket up to £553,000 in development fees for their trouble. But, given their recent financial gymnastics, one can’t help but wonder just how much of that sum they’ll see and over what period.

The work, contingent on receiving the necessary target materials from their client, is supposed to kick off soon and wrap up within the current financial year. The science bit sounds impressive enough – these Optimers are synthetic oligonucleotide molecules touted for their selective targeting capabilities and smaller size, allowing for better tissue penetration and more effective therapeutic delivery.