John Burt, chief executive of Abzena plc (LON:ABZA) tells Proactive full-year revenue for the 12 months to the end of March 2017 jumped by almost 90%, with underlying losses reduced as they prepare for “significant growth”.
"Abzena continues on its growth trajectory that, enabled by the investment secured this year and execution of the investment plans across our international business, is helping to establish Abzena as a significant solution provider for biopharmaceutical development of meaningful scale and impact."
Abzena has signed a master services agreement with the unnamed partner which will see it provide process development and manufacturing services to progress an antibody-drug conjugate towards clinical trials
The company is optimistic on the outlook for the second six months of the financial year with “good order cover and a high engagement level for new business”. That said, Abzena is unlikely to recover the entire shortfall
The company operates a hybrid model, which means its revenues come from providing antibody research and engineering services and creating drug conjugates (targeted treatments for diseases such as cancer). It also manufactures antibodies and proteins for clinical studies