Aptamer inks £0.55m agreement with biotech firm

(Sharecast News) - Aptamer Group announced a significant agreement with a biotechnology company on Thursday, focussed on genetic medicines. The AIM-traded firm said the agreement would see it use its proprietary platform to discover Optimer binders, a novel class of molecules aimed at facilitating the precise targeting of genetic medicines to specific cell types.

In return for their services, Aptamer would receive up to £0.55m in development fees.

The work under the deal was set to begin shortly, pending the receipt of target materials from the collaborating biotechnology company, and was expected to conclude within the current financial year.

Aptamer said the innovative nature of Optimer binders lay in their ability to target new biomarkers and tissues selectively.

The fully synthetic oligonucleotide molecules offered a controlled development process, resulting in high affinity and highly selective binders.

One of the key advantages of Optimer binders was their smaller size, enhancing tissue penetration and, consequently, the effectiveness of therapeutic delivery.

Additionally, the capability to precisely control the conjugation of Optimers to therapeutic payloads allowed for a high degree of precision in therapeutic development and dosing of payloads.

"This project builds on the work we have been doing in drug delivery since being refunded and supports the need for new delivery modalities within the genetic medicines space," said chief technical officer Dr Arron Tolley.

"Targeting oligonucleotide therapeutics beyond hepatocytes remains a challenge across the industry.

"We believe the properties of Optimers make them suitable for developing precision-guided therapies and that Optimer-targeted therapies may represent the next stage in targeted drug delivery."

At 1616 GMT, shares in Aptamer Group were up 1.66% at 1.22p.

Reporting by Josh White for Sharecast.com.