Revenue up at AIM rookie Oxford Biodynamics

Oxford Biodynamics posted its maiden final results for the year to 30 September on Tuesday, with revenue rising to £1.1m compared to £0.7m in the prior year.

The AIM-traded firm said during the period, it contracted with three of the top ten global pharmaceutical companies, as well as a number of the “world's leading” medical and government institutions.

It said significant progress had been made towards its strategic aim of becoming the industry standard for epigenetic biomarker discovery.

The company also completed its IPO on AIM successfully post-period, raising gross proceeds of £20m.

“2016 was a transformational year for OBD,” said CEO Christian Hoyer Milla.

“We continued to make considerable progress towards our strategic aim of becoming the industry standard for epigenetic biomarker discovery, and also achieved a significant milestone with the successful completion of our IPO.”

Hoyer Milla said the company’s focus was now to continue delivering on its ambitious growth strategy, by initiating additional high value biomarker programmes using its proprietary technology platform EpiSwitch, establishing its US representation, and enhancing the company's IP portfolio.

“We look forward to the future with great excitement.”