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DeepMatter Group Plc, (AIM: DMTR), the AIM-listed company focusing on digitizing chemistry, announces its unaudited interim results for the six months ended 30 June 2019.

Operational Highlights:

• Acquisition of InfoChem GmbH, a specialist in cheminformatics, for a total consideration of £2.03 million, with integration proceeding to plan
• Board strengthened with the appointment of Bettina Goerner as a Non-Executive Director on 11 March 2019 and Lauren Lees appointed as Financial Director on 28 June 2019
• David Cleevely and Professor Lee Cronin stepped down from the Board to be appointed as Chairman and member, respectively of the Advisory Committee
• Pioneer Programme now largely complete with the DigitalGlasswareTM platform having been successfully deployed over approximately 12 months by seven organisations worldwide
• First revenue-generating order for the DigitalGlassware™ platform from o2h discovery, a graduate of the Pioneer Programme, received post period end
• Launch of the open access DigitalGlasswareTM online portal, allowing the scientific world to view and interact with shareable data

Financial Highlights:

• Cash at 30 June 2019 of £4.08m (30 June 2018: £2.07m)
• First period of revenue generation for the combined Group; £0.22m delivered
• Loss of £1.62m after tax (H1 2018: £0.98m loss), primarily attributed to the one-off costs of the InfoChem acquisition
• Equity placing at 2.5 pence per share raised gross cash proceeds of approximately £4.0m
• Net assets at 30 June 2019 of £10.36m (30 June 2018: £7.14m)

Outlook

Promising ongoing discussions with regards to further DigitalGlasswareTM deployments

Confident in continued growth and successful execution of the long-term strategy

Mark Warne, Chief Executive Officer of DeepMatter, commented:

"DeepMatter has continued to deliver against its strategic roadmap by reaching several key milestones in the Group's journey. The imminent completion of our successful Pioneer Programme and the continued deployment of DigitalGlasswareTM demonstrates that the scientific community is embracing the move towards the digitization of chemistry and DeepMatter remains at the forefront of driving this vision.

"The acquisition of InfoChem and the additions to our team of experts has further enhanced our capabilities. We enter the second half of the year with a rapidly expanding pipeline of opportunities that will enable DeepMatter to further deploy our technology and focus on the continued monetisation of the platform. We remain confident about the future and, with a robust strategy in place, look forward to driving our vision and achieving our long-term objectives."

For further information:

DeepMatter Group plc	T: 0141 548 8156
Mark Warne, Chief Executive Officer
Shore Capital (Nominated Adviser and Broker)	T:  020 7408 4050
Tom Griffiths David Coaten
Alma PR	T: 020 3405 0205 [email protected]
Caroline Forde Rebecca Sanders-Hewett Susie Hudson Jessica Joynson

 

About DeepMatter:

DeepMatter's long term strategy is to integrate chemistry with technology, thereby enabling a greater use of artificial intelligence and reaching a point where chemicals can be autonomously synthesised through robotics. In the near term this involves the provision of an integrated software, hardware and artificial intelligence enabled platform, DigitalGlassware™, to scientists across research and process development sectors.

The DigitalGlassware™ platform allows chemistry experiments to be accurately and systematically recorded, coded and entered into a shared data cloud. The platform is designed to enable chemists to work together effectively; sharing the details of their experiments from anywhere and in real-time, so that work is not needlessly duplicated, time and money wasted, and ultimately so new discoveries may be made faster.

To read the full release, please click here.