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DeepMatter Group Plc (AIM: DMTR), the AIM-quoted company focusing on digitising chemistry, is pleased to announce its unaudited interim results for the six months ended 30 June 2020. 

Financial Highlights

• Revenue of £0.54m (30 June 2019: £0.22m)
• Loss from continuing operations after tax of £1.17m (30 June 2019: loss of £1.62m)
• Cash at 30 June 2020 of £2.01m (31 December 2019: £2.61m)

Operational Highlights

• Entered into and continuing to progress a series of engagements with top ten pharma, life science providers, research and academic institutions and blue-chip technology partners
• Appointment of dedicated Sales Lead
• Actively pursuing initiatives to increase sales and marketing footprint in the US, Europe and other geographies, such as India and China

Outlook

• Fundraise in July 2020 provided net funds of £2.05 million, supplementing cash balance of £2.01 million reported at the period end, providing resources to invest in sales and marketing
• Continued careful management of discretionary spend to protect the business
• Growing pipeline of revenue and the impact of the virus on customer working practices has increased interest in our DigitalGlassware™ platform and other products

Mark Warne, CEO of DeepMatter, said: "Over the last year we have achieved encouraging growth in our revenue which has continued into the first half of 2020, despite the challenges imposed by COVID-19. The outlook for our DigitalGlassware™ platform remains positive as pharmaceutical and academic organisations seek solutions for working remotely and in a socially distanced environment.

"We remain cautiously optimistic for the sector in which we operate, observing that M&A activity has bounced back in recent months with pharmaceutical companies collaborating with AI and technology, and we are confident that our enhanced focus on sales will be well received and will contribute to the growth of the business."

 

For more information, please contact:

 

DeepMatter Group plc	T: 0141 548 8156
Mark Warne, Chief Executive Officer
C anaccord Genuity Limited (Nominated Advisor and Broker)	T: 020 7523 8000
Bobbie Hilliam / Angelos Vlatakis
Alma PR	T: 020 3405 0205 [email protected]
Caroline Forde / Harriet Jackson / Kieran Breheny

About DeepMatter Group plc 

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. 

Visit: www.deepmatter.io and follow @deepmattergroup