York-based Aptamer Group plc, a developer of novel Optimer binders to enable innovation in the life sciences industry, published an update on its partnership with Unilever to deliver Optimer binders for cosmetic applications.
Aptamer also published a trading update for the year ending June 30, 2024, showing an upturn in sales and order book as the year progressed.
Aptamer shares rose about 6%.
“In 2022, Aptamer initiated a partnership with Unilever for the development of Optimer binders with the aim of treating malodour in personal care products,” said Aptamer
“Following successful Optimer development, the binders have been rigorously tested at both Aptamer Group and Unilever showing highly positive and reproducible results, indicating their potential for use in downstream products.
“Based on these results, a patent was submitted on 28 March 2024, to protect the developed Optimer binders and give Aptamer Group precedence for the protection of the intellectual property.
“Work to test the Optimer binders is ongoing in Unilever’s labs. Unilever plans to conduct on-person functionality studies in the second half of 2024.
“The global deodorant market alone was valued at $25.6 billion in 2023, with Unilever being the market leader as the largest antiperspirant and deodorant manufacturer in the world.
“It is anticipated that this project will be completed over the next two years, and if successful, could result in Aptamer licensing the Optimer binders to Unilever.”
In its trading update, Aptamer said: “The unaudited revenue for the year was approximately £0.85 million with £0.55 million generated in the second half of the year.
“Following the lull in customer confidence caused by the acute funding problem in August 2023, confidence had to be rebuilt with customers which translated into the rebuilding of the sales pipeline.
“These efforts have 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, £0.98 million in orders were won which has resulted in a total of £1.8 million in signed orders currently being processed or awaiting processing in the laboratory.
“In addition to the order book, we have a current pipeline of advanced sales negotiations totalling £2.1 million. Consequently, Aptamer Group is well-positioned moving into the new financial year, with ongoing work progressing through the lab and a robust sales pipeline.”