Asterand

Asterand, a leading supplier of human-based tissue samples and bio-fluids and a pioneer in applying ‘predictive human biology’ to drug discovery, has signed a collaboration agreement with Japan’s Ono Pharmaceuticals.

The agreement, between Asterand’s recently acquired BioSeek division and the Japanese speciality drug concern, provides for a three-year research programme, for which BioSeek will apply its proprietary BioMap platform for a drug target class designated by Ono.

In return for research funding and milestone payments to BioSeek, Ono will have worldwide rights to develop and sell all the pharmaceutical products discovered through the collaboration. Martyn Coombs, Asterand’s chief executive officer, argues Ono’s decision to collaborate in this way ‘is an important endorsement of both our technology platform and collaborative research model’.

Fully listed Asterand converted £53,000 losses into £326,000 pre-tax profits in the first half of last year on turnover up 28% to £6.6m, though more recently it warned of certain large order delays in the second half year. Highlighted by Growth Company Investor at 8.75p in 2008, the shares hit 25.25p last August, when GCI suggested partial profit taking.

Now trading at 17.75p, the residue is worth holding for possible future progress.