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Proteome Sciences looks ahead with confidence

Drug developer Proteome Sciences has told investors that it expects strong revenue growth across the company's three main divisions in 2013 and said it is 'much encouraged by the prospects'.

Drug developer Proteome Sciences has told investors that it expects strong revenue growth across the company's three main divisions in 2013 and said it is 'much encouraged by the prospects'.

The announcement comes after the group received a positive response to the presentation of four posters that revealed new data and assays in Alzheimer's disease at a conference in Italy.

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The company said the posters generated 'considerable' additional interest for PS Biomarker Services, enabling the business to 'considerably expand' its range of novel tools and assays to test AD drugs in development. This has contributed to what has been a "strong performance" since the end of 2012.

Furthermore, since the conference the company has conducted additional analysis of its CK1D product and confirmed that both PS compounds tested have successfully achieved therapeutic levels in the brain.

"Commercial discussions to outlicense CK1D that started in January have progressed rapidly with significant interest from the major pharmaceutical companies," Proteome said.

"This process will be assisted as further biological and pharmacology data becomes available in the second quarter. The strategy is to shortlist and then select the right pharma partner to license the CK1D programme in order to bring the compounds rapidly to clinical trials. As previously discussed, industry benchmarks indicate that these should command considerable license fees, milestones and royalties."

The share price rose 2.16% to 65p by 14:30.

NR

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