York life sciences firm Aptamer Group has issued a positive trading update highlighting a £2.1m pipeline of sales negotiations.

The company develops binders through its Optimer platform to enable new, innovative approaches in the life science industry, within therapeutics, diagnostics, and research applications. In an update for the year ended June 30, directors said it saw an upturn in sales as the year progressed, with unaudited revenue for the year coming in at £0.85m, around £0.55m of which was generated in the second half of the year.

It said that, following the lull in customer confidence caused by its acute funding problem in August 2023, confidence had to be rebuilt with customers. The firm’s efforts to build up its sales pipeline led to increased revenues in the second half of the year and an “encouraging rise in order book values”.

In the last quarter of the financial year, £0.98m in orders were won, resulting in a total of £1.8m in signed orders currently being processed or awaiting processing in the laboratory, putting the company in a strong position as it goes into the new financial year. As well as its order book, it also has a current pipeline of advanced sales negotiations totalling £2.1m.

Steve Hull, executive chair of Aptamer Group, said: “The trajectory of both sales and revenue shows increasing potential, putting Aptamer Group on a good footing for the forthcoming year. The team has worked hard to rebuild the pipeline in the past year, and it is pleasing to see we have achieved a continued increase in sales throughout the year, with £0.98m sales orders signed in the final quarter alone showing this work is beginning to pay off for the company.

“We have made excellent technical progress this year having focussed on key strategic assets. Successful work is ongoing with Unilever to deliver Optimers aimed for use in personal care products, and we have had high interest from multiple top pharma companies in our Optimer delivery vehicles for fibrotic liver disease. As we continue to progress these projects with our partners, the company increases its potential to generate significant licensing revenue from these high-value assets.”