DeepMatter Group PLC Strong adoption of ICSYNTH (2679C)

TIDMDMTR

RNS Number : 2679C

DeepMatter Group PLC

16 October 2020

16 October 2020

DeepMatter Group plc

("DeepMatter", the "Company" or "the Group")

Strong adoption of ICSYNTH

DeepMatter doubles customer numbers for its machine-learning retrosynthesis tool

DeepMatter (AIM: DMTR), the AIM-quoted company focusing on digitising chemistry, is pleased to announce it has secured contracts with five new major customers over the last two months for its powerful computer aided synthesis design tool, ICSYNTH. In total, ICSYNTH customer numbers have more than doubled through the course of 2020, and the Company has achieved 100% customer renewals, adding to the Group's underlying revenue base. The new customers include some of the world's leading multi-national pharmaceutical, agrisciences, biotech and contract research organisations (CROs). Retrosynthesis is a growing area of the Life Sciences Research & Development space, providing an increasing opportunity for ICSYNTH.

ICSYNTH is a powerful computer aided synthesis design tool that enables chemists to generate synthetic pathways for a target molecule, leading to better, faster and more cost-effective synthesis predictions. ICSYNTH facilitates innovation by stimulating ideas for alternative or novel synthetic routes that otherwise may not be considered by the chemist.

Development work has recently been completed on a new User Interface for the tool, facilitating greater ease of use, and new algorithms have been introduced to filter out erroneous data from any data source, including proprietary data in Electronic Laboratory Notebooks, leading to improved synthesis predictions resulting in better productivity and time management.

Mark Warne, Chief Executive Officer of DeepMatter commented: "We are delighted to be supplying our powerful retrosynthesis and forward planning tools to these leaders in their field, expanding our customer base not only in the Pharmaceutical industry but also within the agrisciences and CRO sectors.

"With machine learning and cloud technologies both powerful tools in the race to accelerated drug discovery, we see a growing opportunity for both our ICSYNTH and DigitalGlassware(TM) platforms and look to the future with confidence."

For more information, please contact:

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

About DeepMatter Group plc

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(TM), to scientists across research and process development sectors.

The DigitalGlassware(TM) 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.

Visit: www.deepmatter.io and follow @deepmattergroup

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October 16, 2020 02:00 ET (06:00 GMT)