Aptamer chairman 'delighted' with progress as work with Unilever and AstraZeneca continues

The Yorkshire company has also been working on other potential uses, such as developing binders capable of reducing body odour which could be used in deodorants.

In a statement at the company’s AGM at its York headquarters on Friday morning, non-executive chairman Dr Adam Hargreaves said the company is moving in the right direction on several fronts.

"I am delighted with the progress made by Aptamer Group,” he said.

"Since the fundraising of £2.6m in July this year, we have met our cost-base reduction targets, streamlined our scientific production capabilities, and executed our new commercial growth strategy to deliver optimised products of high quality to our growing customer base.

“Attracting new partners has ensured that we are now working with the majority of the larger global pharmaceutical companies, alongside a wealth of diagnostic, healthcare, and niche biotech partners.

"Particular highlights have included the development of a vertical market platform in fibrosis, in which we are working with AstraZeneca; the progression toward human trials of our deodorant Optimer product with Unilever; and the successful production of an Optimer delivery conjugate to an undisclosed genetic medicines company, with which they are planning pre-clinical trials.

“Our increased commercial traction has secured newly signed contracts, currently up to the value of £471,000, which will ensure that the Group's cash runway remains generous, allowing any licensing opportunities to evolve and potentially crystalise over this extended period.

“The board looks forward to updating shareholders on further progress in due course."

All resolutions to the AGM were passed.

Earlier this month, the company announced an unnamed genetic medicines customer had extended its agreement with Aptamer.

The announcement said they were moving to the final commercial development stage following research which has indicted Aptamer’s Optimer binders can target specific cell types and have the potential to be used as part of a precision therapy.

Chief executive Dr Aaron Tolley said: “We are delighted with our customer's decision to advance to the final stage of Optimer development.

"The customer's results align with those seen within our own laboratories and validate the hard work of our scientific team to develop novel, high-performance delivery vehicles.

“As this Optimer advances through the final development stages, we continue to move closer to demonstrating the strength of our Optimer platform in generating high-value, therapeutic targeting assets."