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Proteome Sciences PLC (PRM.L) Release Preliminary Results for the Year Ended 31st December, 2012


5/30/2013 9:45:49 AM

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30th May, 2012 -- Highlights:

Commercial

— Revenue increased 13% to £1.15m

— Licences / Sales / Services showed 22% growth

— TMT® revenue grew sharply with reagent sales increasing 41% in 2012

— By end 2012, 100 biomarkers covered by our assays

— In vitro and in vivo proof of principle of our 2 lead CK1D compounds

— SysQuant® delivers 'game-changing' capability to map signalling pathways

— TMT® range expanded with TMT® 8-plex and TMT® 10-plex

— Stroke licence concluded with seven digit $ fee and double digit royalties

— 24 patents granted with a further 20 applications filed

— The major PS Biomarker Services™ contract delayed at the end of last year is expected to be completed imminently Financial

— Revenue for 2012 increased 13% to £1.15m (2011: £1.02m)

— Licences / Sales / Services revenue rose 22% to £0.81m (2011: £0.66m)

— Grant Services revenue £0.35m (2011: £0.36m) and TMT® reagent sales increased 41%

— The loss after tax was £4.25m, (2011: £3.96m). The loss after tax (excluding other gains and losses) was £3.49m (2011: £3.96m)

— Decrease of (£2.01m) in the reduction of net cash and cash equivalents (£3.34m) (2011: (£5.34m))

— Cash at the year-end was £0.86m (2011: £4.06m)

Outlook

— Rapid progress in SysQuant® development - five-fold increase to >11,000 phosphoproteins in a single run

— SensiDerm® multiplex assay provides means to meet EU requirements for non-animal testing of sensitizers

— New BTSA 3-plex and 6-plex assays to improve breast cancer treatment

— Additions to range with TMT® 20-plex and TMT® 30-plex later in 2013 or early 2014

— Novel panel 16 CSF proteins for diagnosis/monitoring of AD

Commenting on these results, Christopher Pearce, Chief Executive of Proteome Sciences, said:

"Protein biomarkers are receiving increasing prominence and attention and we are benefiting from a broad and growing pipeline

of contracts as we continue to raise our research and corporate profile.

SysQuant®, our 'game-changing' assay to map cell signalling pathways for drug response and treatment management is a fine example. Doctors for the first time with SysQuant® will have the tools for real time clinical management of patients - truly 'Personalised Medicine' - a breakthrough that will provide measurable benefits to the standards of healthcare that improve quality of life and reduce both the economic and personal cost of some of the most debilitating conditions. SysQuant® significantly differentiates PS Biomarker Services™ in the market and we believe that it will make a considerable contribution to our assay portfolio and revenue.

Against this background we expect a strong performance over the year from licences, products and services that should result in a considerable uplift in 2013 revenue."

Attached: summary Chairman’s message and operational review, consolidated income statement, consolidated balance sheet, consolidated statement of changes in equity, consolidated cashflow statement and notes to the financial statements. Cautionary statement on forward-looking statements

This document contains certain forward-looking statements relating to the Group. The Group considers any statements that are not historical facts as "forward-looking statements". They relate to events and trends that are subject to risk and uncertainty that may cause actual results and the financial performance of the Group to differ materially from those contained in any forward-looking statement. These statements are made by the directors in good faith based on information available to them and such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

For further information please contact

Proteome Sciences plc:

www.proteomics.com

Tel: +44 (0)1932 865065

Christopher Pearce, Chief Executive

Email: christopher.pearce@proteomics.com

James Malthouse, Finance Director

Email: james.malthouse@proteomics.com

Ian Pike, Chief Operating Officer

Email: ian.pike@proteomics.com

Advisers:

Nominated Adviser:

Cenkos Securities plc

Camilla Hume

Tel: +44 (0)7397 8900

Public Relations:

FTI Consulting

Ben Atwell/Mo Noonan

Tel: +44 (0)20 7269 7116

Fax: +44 (0)20 7405 8007

Email: mo.noonan@fd.com

IKON LLP

Adrian Shaw

Tel: +44 (0)1483 535102

Mobile: +44 (0)7979 900733

Email: adrian@ikonassociates.com

Notes to Editors:

About Proteome Sciences:

Proteome Sciences is a global leader in applied proteomics and peptidomics offering high sensitivity, proprietary technologies for protein and peptide biomarker discovery, validation and assay development. Its PS Biomarker Services™ uses isobaric and isotopic Tandem Mass Tag® (TMT®) workflows developed on the latest Orbitrap Velos and TSQ Vantage mass spectrometers to deliver rapid, robust and reproducible biomarker assay development for customers in the pharmaceutical, diagnostic and biotechnology sectors. Services are provided from its ISO 9001: 2008 accredited facilities in Frankfurt, Germany. By combining Selected Reaction Monitoring (SRM) and TMT® workflows highly multiplexed assays can be developed rapidly and are suitable for screening hundreds of candidate biomarkers in larger validation studies and can be transferred for immunoassay development. The Company’s own research has discovered a large number of novel protein biomarkers in key human diseases and is focused mainly in neurological/neurodegenerative conditions and in cancer. It has discovered and patented blood biomarkers, including Alzheimer’s disease, stroke, brain damage and lung cancer for diagnostic and treatment applications that are available for license or are already outlicensed.



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