Proteome secures third contract from US biopharma client

(Sharecast News) - Proteome Sciences announced on Monday that it has secured a third contract from a US biopharmaceutical client for its mass spectrometry services, further expanding the company's role in supporting clinical development programmes. The AIM-traded group said the new agreement covered the development of a targeted assay at its Frankfurt facility ahead of a clinical trial scheduled to begin at the end of the first quarter of 2026.

It said the contract would be designed to meet Good Clinical Laboratory Practice accreditation standards, enabling the assay to be used for monitoring drug performance once the trial is underway.

Proteome Sciences said it expected part of the work to be completed within the current financial year, with the rest delivered by the end of the first quarter of 2026.

It said future phases of activity were likely to mirror work announced in February under earlier agreements with the same customer.

"We expected to receive additional contracts from the same customer and the targeted assay that we develop is designed to perform under GCLP compliance to monitor drug performance in the new clinical trial planned for early 2026," said chief commercial officer Richard Dennis.

"As in 2024, we continue to see increasing interest for GCLP contracts from other major biopharma clients both in the US and Europe and we hope to secure additional orders in 2026 and 2027."

At 1332 GMT, shares in Proteome Sciences were down 22.31% at 2.02p.

Reporting by Josh White for Sharecast.com.