York-based life sciences company, the Aptamer Group, has reported revenue growth of 150% over the past year.

The company, which is relocating to much larger premises at York Science Park, expects to report revenue for the year ended 30 June 2022 of approximately £4.0m.

This is 150% ahead of the prior year period (15 months period to 30 June 2021: £1.6m) and in line with market expectations.

The company says growth has been delivered from strong operational performance, including contract wins and extensions across all three business units.

Cash at June 30 2022 was £6.7m (June 30 2021: £0.4m, December 31 2021: £9.8m), ahead of market expectations.

“Since its AIM float in December 2021, Aptamer Group has demonstrated strong progress with new and existing contracts signed across all three business units (Solutions, Diagnostics and Therapeutics), and the Company is continuing its expansion to capitalise on the clear market opportunity,” the company said.

The business, founded in 2008, has also increased staffing by 40 per cent to 50 over the past year.

CEO Arron Tolley said: “We are pleased with the pace of progress over the past six months, having seen success in expanding our current partnerships and winning new contracts, which has delivered financial performance in line with market expectations.

“As well as aiming to continue delivering strong revenue growth, we are making preparations to further capitalise on the clear market opportunities, new strategic collaborations and the demand for next-generation affinity ligands key to enable our future growth.

“We are anticipating growing demand as Pharma and Biotech increasingly outsource the development of enhanced binders for delivery of new generations of therapeutics. To support our strategic objectives, we are increasing headcount across the business and expanding business development activities.

“We are looking forward to moving to our new, larger premises, with purpose-built automation which will enable us to deliver more projects efficiently to our growing customer base.”

York-based life sciences specialist Aptamer Group, which develops molecular binders as an alternative to antibodies, has reported revenue growth of about 150 per cent in its full-year trading update.

The company will report revenue for the year ended 30 June 2022 of around £4m, in line with market expectations.

The business says its growth is due to strong operational performance, including contract wins and extensions across all three of its business units.

Arron Tolley, chief executive officer, said: “We are pleased with the pace of progress over the past six months, having seen success in expanding our current partnerships and winning new contracts, which has delivered financial performance in line with market expectations.

“We are anticipating growing demand as Pharma and Biotech increasingly outsource the development of enhanced binders for delivery of new generations of therapeutics.”