Aptamer Group PLC announced that it had terminated its sale process after announcing it had conditionally completed a fundraise, while the company also revealed that its chair and interim chief executive officer & chief financial officer have both resigned.

Shares in Aptamer is a York-based provider of Optimer binders for use in therapeutics, diagnostics, bioprocessing and research, fell by 43% to 2.70 pence in London on Monday morning.

The company announced a conditional fundraising of £3.6 million, and accordingly the board decided to terminate the formal sale process. Aptamer’s said its planned fundraising was through a placing and subscription of 360 million shares at 1 pence each.

‘The Company is not in discussions with any party in relation to a sale and is not in receipt of any approaches,’ said Aptamer.

Aptamer said its focus was on ‘tight costs discipline’ in order to reach earnings before interest, tax, depreciation, and amortisation, and to break cash even.

The company lowered its revenue targets to £3.0 million for the current year, and £6.0 million for financial 2026.

As part of the restructure, Aptamer announced that Chair Ian Gilham and Interim Chief Executive Officer & Chief Financial Officer Rob Quinn have resigned, effective from August 21.

The company announced that it had appointed Steve Hull as chair from the same date, and promoted Andrew Rapson, current head of finance, to CFO.

The firm said its founder Arron Tolley has been reappointed to the board as chief technology officer & director, but on substantially reduced pay.

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