Business
Result of AGM and Update
Result of AGM and Update.
About this update from Proteome Sciences Plc
[{"type":"text","content":"\n \n Proteome Sciences plc \n\n (the \"Proteome Sciences\" or \"Company\") \n\n AGM Results and Update \n\nCobham, England, 28 July 2008 - Proteome Sciences plc is pleased to announce\nthat at the Company's Annual General Meeting (\"AGM\") held earlier today\nresolutions 1 to 7 were duly passed but resolution 8 was not carried following\na poll.\n\nAt today's AGM Dr Ian Pike, Chief Business Officer, provided a presentation on\nthe Commercial Value and Importance of Biomarkers. This presentation will\nshortly be made available on the Company's website (www.proteomics.com).\nFurthermore, the Company's Chairman, Steve Harris, made the following comments:\n\n\"It may be helpful for our shareholders to have a better understanding of the\nCompany's view of the potential market size and importance of our TMT® isobaric\ntandem mass tag technology.\n\nIn 2006 estimates for isobaric tandem mass tags indicated that the overall\nmarket size over the TMT® patent life was likely to be from $0.6bn to $1.4bn,\nand the rapid 18% annual growth rates evidenced at that time in proteomics and\nmass spectrometry services subsequently appear to have increased. In the second\nhalf of 2007, Proteome Sciences presented the development of TMT Reference\nMaterials™ and TMTcalibrator™, high value, high volume bespoke labelling\napplications that address and open up substantial new markets and\nopportunities.\n\nIn April 2008 Proteome Sciences announced the license agreement for TMT®\ncatalogue products with Thermo Fisher Scientific Inc., the global leader\nserving science. Under the license arrangements with Thermo Fisher, Proteome\nSciences retained the use of TMT® for custom labelling services and its own\nresearch. TMT Reference Materials™ and TMTcalibrator™ are predicted to add\nconsiderable additional revenue as the pharmaceutical industry and its\nregulators require increasing access to technologies that improve the quality\nand throughput of biomarker discovery validation and assay development. This\nwider use profile increases the potential market size and value of TMT®. In\naddition, custom applications in their own right through the ProteoSHOP®\nservices division is an untapped market and could match the estimates for TMT®\ncatalogue sales, and with greater returns.\n\nAs previously stated, the TMT® license agreement was an outsta...