RNS Number: 3125I
DeepMatter Group PLC
08 August 2019
DeepMatter Group plc
(“DeepMatter”, the " Company" or the "Group")
First revenues for DigitalGlassware™
DeepMatter (AIM: DMTR), the AIM-quoted company focusing on digitizing chemistry announces that it has received its first revenue-generating order for its DigitalGlassware™ platform.
The first purchase order is from o2h discovery (o2h), an Anglo-Indian medicinal chemistry service provider that has end-to-end capability to take drug discovery programmes to the IND filing stage. o2h participated in the Company's Pioneer Programme during 2018, trialling the DigitalGlassware™ platform in both its research and process chemistry operations.
Having participated in the Pioneer Programme, and being sufficiently impressed by the DigitalGlassware™ technology, o2h has elected to pay for the provision of a greater number of user licences. This roll out will enable o2h to use DigitalGlassware™ as part its drug-discovery collaboration with a strategic customer.
The DigitalGlassware™ platform is an integrated software, hardware and machine learning enabled platform for scientists across research and process development. It 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; share the details of their experiments from anywhere and in real-time, so that the work is not needlessly duplicated, time and money are not wasted, and ultimately new discoveries are made faster.
Mark Warne, Chief Executive Officer of DeepMatter, commented:
"This is a key milestone for the Company, and we are delighted that o2h has progressed from our Pioneer Programme to deploying DigitalGlassware™ across one of its laboratories. This deal demonstrates that our platform is delivering tangible value to the industry and the fact that o2h, renowned for being innovative and forward thinking, is the first of our partners to sign a contract of this nature with us, underlines the disruptive potential of our platform.
This is the first step on our journey towards monetisation of the platform in line with our current expectations."
Sunil Shah, Chief Executive Officer of o2h, said:
"We were delighted to have been asked to join the DigitalGlassware™ Pioneer Programme and were very impressed by its potential to digitize chemistry. The software compliments our proprietary AI Chemistry in The Cloud™ application which is the world's first app to project manage external drug discovery programmes. Combined with the DigitalGlassware™ platform we are accelerating our mission to become the first fully integrated Digital Chemistry enabled service provider. We look forward to working together with DeepMatter in the future and building on our strong relationship."
For further information:
DeepMatter Group plc
Mark Warne, Chief Executive Officer
T: 0141 548 8156
Shore Capital (Nominated Advisor and Broker)
T: 020 7408 4050
T: 020 3405 0205
About DeepMatter Group
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.
o2h has an integrated drug discovery platform operating from its state-of-the-art research centre in India and The Mill SciTech Park Cambridge, UK. We have the in-house capability to execute hit-lead-optimisation programmes leading into patent and IND filing from our state-of-the-art biotechnology incubator with expertise in discovery chemistry, biology, pharmacology and the on-going project management of pre-clinical development.
o2h Discovery has developed and launched its proprietary application AI Chemistry in the Cloud™ the world's first app to revolutionise the project management of external drug discovery programmes. The app enables communication between various scientific stakeholders essential to successful project advancement leading to faster decision making.
The DNA of o2h is centered around the nurturing of its people, values and culture which reflects in the way we work with each other, our collaborators and partners. For more information, please see- www.o2h.com or contact email@example.com.
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