IP : DeepMatter Group Plc - Final results for the year ended 31 December 2020

DeepMatterGroup Plc (AIM: DMTR), the AIM-quoted company focusing on digitising chemistry, is pleased to announce its audited financial results for the year ended 31 December 2020.

Financial Highlights

• Revenues of £1.3m (2019: £1.2m)
• Loss for the year £2.4m (2019: £3.0m)
• Cash as at 31 December 2020 of £2.6m (31 December 2019: £2.6m)
• Fundraise in July 2020 raising gross proceeds of £2.2m, enabling further investment in the Group's sales and marketing to support its long-term objectives

Operational Highlights

• 50% of the world's Top 10 pharmaceutical organisations using DeepMatter products
• 300% growth in the number of trials of DeepMatter products, 18% growth in user numbers
• Growing awareness of the need to digitalise chemistry and labs, driving increased market interest in the Group's offering reflected in the announcement ofa three-year contract with Thieme Chemistry, an award-winning international medical and science publisher and deployments of DigitalGlassware® within life sciences companies and academic institutions
• Productivity gains with DigitalGlassware® were demonstrated by a study with o2h, with the average yield 50% greater and average errors reduced by 80%
• Strengthening of team through key hires at management and Board level including a new Chief Financial Officer and new Chair, providing an enhanced structure to capitalise on the growth opportunity as the disruption to the pharma industry of COVID-19 reduces

Post-Period Highlights and Outlook

• Expanded geographic reach into the US via a co-distribution agreement with North American-based Elemental Machines
• Demonstrated the monetising of our data with a multi-year, data licensing agreement signed with the Life Science business of Merck
• The Group has made progress in the year in developing its user base, particularly within Contract Research Organisations ('CRO'), Academic segments, and continues to see healthy growth in its pipeline
• The accelerating integration of science with technology provides a positive long-term opportunity for DeepMatter and the Board looks to the future with confidence

Mark Warne, CEO of DeepMatter, said: 'I am pleased to report that we achieved notable strategic successes and have entered 2021 in a strong position despite the uncertainty created in 2020 by the impact of Covid-19. We will continue to build on the momentum of the second half of 2020 in the current year with sales to the pharmaceutical industry and scientific publishers, whilst targeting the CRO and academic sectors who are proving to be the most successful early adopters of our platform.

'We are encouraged by our growing base of committed recurring revenues and an increased pipeline of opportunities. Our increased sales and marketing capability is delivering results, and we have a strengthened financial basis on which to grow. We therefore look forward to the ongoing execution of our growth strategy.'

For more information, please contact:

DeepMatter Group plc	T: 0141 548 8156
Mark Warne, Chief Executive Officer
Canaccord Genuity Limited (Nominated Advisor and Broker)	T: 020 7523 8000
Bobbie Hilliam / Angelos Vlatakis
Alma PR	T: 020 3405 0205 [e-mail]
Caroline Forde / Harriet Jackson / Kieran Breheny / Faye Calow

About DeepMatter Group plc

DeepMatter is building and commercialising the most powerful data platforms, to enable scientists to easily perform and optimise chemical reactions, by increasingly integrating chemistry with technology. Ultimately this will allow the greater use of artificial intelligence and reaching a point where chemicals can be autonomously synthesised through robotics.

Visit: www.deepmatter.ioand follow @deepmattergroup