Proteome Sciences plc
Climate Impact & Sustainability Data (2015, 2016)
Reporting Period: 2015
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Licensing arrangements and uncertainty of commercialisation
- Competition and technology
- Dependence on key personnel
- Patent applications and proprietary rights
Mitigation Strategies
- Thorough investigation of proposed research projects to assess their scientific and commercial feasibility; experienced board and management team; spreading resources across projects
- Employing highly qualified research scientists and senior management who monitor technological developments; access to scientific publications and attendance at conferences
- Organizing research so that projects are not dependent on any one individual; retaining staff by granting share options and through annual remuneration reviews
- Experienced patent department; controls to avoid release of patentable material before filing patent applications; using external patent advisors and several firms
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2016
Environmental Metrics
Social Achievements
- Improved data analysis, simplifying and strengthening project outputs to deliver a better client experience.
- Initiated a program of work to make Frankfurt laboratory compliant with GCLP regulations.
Governance Achievements
- Appointment of a Chief Compliance Officer to oversee GCLP accreditation.
- Consolidation of laboratory capabilities on a single site.
Climate Goals & Targets
Medium-term Goals:
- Achieve sustained positive cash flow generation.
Short-term Goals:
- Completion of GCLP compliance program in Frankfurt by mid-2017.
- Launch of CE-marked stroke diagnostic in the second half of 2017.
Environmental Challenges
- Turbulent financial environment and challenging market conditions across the bioscience sector.
- Transition in Group leadership and strategy revision.
- Slower than anticipated conversion of client interest into formal contract work and repeat business.
- Delays in closing orders and reaching agreed milestones on service contracts.
- General malaise in biopharmaceuticals with focus on value and price suppressing innovation.
Mitigation Strategies
- Successful fundraise of £3.3m to ensure regulatory compliance, strengthen commercialisation, and consolidate footprint.
- Focus on becoming a premium contract, service-based proteomics business with a resourced bioinformatics unit.
- Cost containment initiatives, including deliberate reductions in intellectual property portfolio.
- Website content revision and faster financial reporting cycle to improve communication.
- Consolidation of laboratory capabilities in Frankfurt to improve efficiency and GCLP accreditation.