Inactive Instrument

DeepMatter Group Plc

CRON

GB00B29YYY86

Deepmatter : Shares Rise on Agreement With Germany's Merck

January 20, 2021 at 04:01 am EST

By Adria Calatayud

Shares in Deepmatter Group PLC rose Wednesday after the company said one of its subsidiaries has entered into a data-licensing agreement with Merck KGaA's life-science business.

The agreement is to provide proprietary chemical structure and reaction data content to Merck, the U.K. science-technology company said.

Terms of the agreement weren't disclosed.

Shares in Deepmatter at 0842 GMT were up 15% at 2.70 pence.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

01-20-21 0400ET

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DeepMatter Group Plc is a United Kingdom based big data and analysis company. The Company is engaged in building and commercializing data platforms, to enable scientists to easily perform and optimize chemical reactions, by increasingly integrating chemistry with technology. It operates through three subsidiaries, InfoChem GmbH (InfoChem), DeepMatter Limited (DML) and OpenIOLabs Limited (OpenIOLabs). It operates through two segments: DeepMatter and InfoChem. DeepMatter segment includes both the Company's investment in DML and in OpenIOLabs as the technology platform. The cash generating units of InfoChem encompasses the trade of InfoChem segment. The value-in-use calculations in respect of InfoChem use cash flow projections based on financial budgets covers a five-year period. Cash flows beyond the five-year period is extrapolated using a multiplier of 10. Its products portfolio includes DigitalGlassware, synthesis & reaction prediction, information extraction and cheminformatics.

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