Proteome secures $1m-plus contract with US biopharma firm

(Sharecast News) - Proteome Sciences announced on Friday that it has secured a contract worth over $1m from a US biopharmaceutical company for the use of its mass spectrometry services in an ongoing clinical trial. The AIM-traded firm said the project would be conducted under the company's Good Clinical Laboratory Practice (GCLP) accreditation, which was specifically obtained for the type of work.

A significant portion of the contract was expected to be completed within the current financial year and into 2026.

Proteome did not disclose the identity of the client, but highlighted the agreement as a substantial win for its clinical trial services.

"In April 2024 we announced the first contract from this customer and commented that we expected additional contracts to be received from them in the near future," said chief commercial officer Richard Dennis.

"This contract represents a further targeted assay that we will perform under GCLP compliance to monitor drug performance in an ongoing clinical trial.

"As in 2024 we are seeing increasing interest for GCLP work from other major biopharma clients in both the US and Europe and expect additional orders to follow in 2025."

At 1319 GMT, shares in Proteome Sciences were up 10.05% at 4.94p.

Reporting by Josh White for Sharecast.com.