GLASGOW-based digital chemistry firm DeepMatter has won an endorsement for its technology from a big international player amid challenging market conditions.
The company has signed a multi-year licensing deal with pharmaceuticals giant Merck for the provision of information about chemicals and reactions in digital form.
The terms of the agreement were not disclosed.
READ MORE: Glasgow digital chemistry firm wins German contract amid Brexit wrangling
However, DeepMatter’s chief executive, Mark Warne, said the company was delighted to have struck the deal. He described Merck as a company dedicated to making research and biotech simpler, faster and safer.
DeepMatter reckons its technology can help speed up processes such as drug discovery.
Its Digital Glassware can be used to record information concerning complex chemical processes in digital form automatically for sharing online.
Chief executive Mark Warne has said Digital Glassware can allow chemists to work in a socially distanced environment.
DeepMatter has won a growing following in recent months, during which it has entered into agreements with corporations and universities and with The Cancer Research UK Beatson Institute in Glasgow.
READ MORE: A Scots financial technology star is in the spotlight as bidders circle
Last month a German scientific publisher, Thieme, awarded DeepMatter a contract covering the provision of data services and access to its technology.
The companies negotiated the agreement as the UK Government raced to agree a Brexit deal ahead of the December 31 deadline.
In September DeepMatter posted a 150 per cent increase in first half sales, to £450,000.
DeepMatter employs 15 people in Glasgow. It was spun out of the University of Glasgow by Lee Cronin in 2014. Mr Cronin is regius professor of chemistry at the university amd sits on DeepMatter’s advisory board.
Shares in DeepMatter closed up 0.05p at 2.4p. The Aim market-listed firm raised £2.1 million at 1.5p per share in July. It planned to use the funding to support increased sales and marketing activity.
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