February 11, 2020
The Company is pleased to provide a further trading update for the financial year ended 31 December 2019.
The Company announces that stronger than expected sales of TMT® and TMTpro™ in the fourth quarter of 2019 have been achieved and as a result, pursuant to the exclusive licence and distributor agreement with Thermo Scientific, a cumulative sales milestone payment of approximately £0.75m was triggered in December. This payment is expected to be received by Proteome in the first quarter of 2020, further strengthening the Company’s cash position, and will be recognised in the 2019 financial year.