RNS Number : 5142L

Proteome Sciences PLC

16 May 2022

16 May 2022

Proteome Sciences plc

("Proteome Sciences" or the "Company")

Annual General Meeting (AGM) Statement

At the Company's AGM being held today at 12.00 noon, the Chairman, Christopher Pearce, will make the following statement:

"With continuous business growth and a particularly good performance in our service business, we recorded a small profit and an adjusted EBITDA* of GBP1.35m (2020: GBP0.72m) for the year ended 31 December 2021. We were able to gain a record number of contracts including a substantial order in excess of GBP1m. Also, our TMT revenues remained strong underlining the USP we have in the proteomics field with these reagents. Based on the strategic process we ran in 2021 we decided to add a high value, high demand service to our portfolio -single cell proteomics - and to increase our USP of proprietary tags by developing new, innovative reagents. The progress over the last three years has created an excellent platform for the further development of the company. The strong order book, cash position and strategic plan provide a basis to grow all aspects of our business in 2022. We started strategic investments in staff and instruments in 2021 and continue to do so in 2022. The board has an increased confidence of profits growth in 2022."

* - Adjusted EBITDA is a non-GAAP company specific measure which is considered to be a key performance indicator of the Group's financial performance. Adjusted EBITDA is calculated as operating profit before depreciation (including right-to-use assets amortisation), amortisation, non-recurring costs, and employee share-based payment.

For further information:

 Proteome Sciences plc 
 Dr Mariola Soehngen, Chief Executive 
  Officer                                  Tel: +44 (0)20 7043 2116 
  Dr Ian Pike, Chief Scientific Officer 
 Allenby Capital Limited (AIM Nominated Adviser & Broker) 
 John Depasquale / Jeremy Porter          Tel: +44 (0) 20 3328 5656 

About Proteome Sciences plc. ( www.proteomics.com )

Proteome Sciences plc is a specialist provider of contract proteomics services to enable drug discovery, development and biomarker identification, and employs proprietary workflows for the optimum analysis of tissues, cells and body fluids. SysQuant(R) and TMT(R)MS2 are unbiased methods for identifying and contextualising new targets and defining mechanisms of biological activity, while analysis using Super-Depletion and TMTcalibrator(TM) provides access to over 8,500 circulating plasma proteins for the discovery of disease-related biomarkers. Targeted assay development using mass spectrometry delivers high sensitivity, interference-free biomarker analyses in situations where standard ELISA assays are not available.

The Company has its headquarters in London, UK, with laboratory facilities in Frankfurt, Germany.

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(END) Dow Jones Newswires

May 16, 2022 02:00 ET (06:00 GMT)

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