Biome Technologies wins contract with international medical corporation

Bioplastics and radiofrequency technology business Biome Technologies said on Thursday that it had been awarded a £435,000 contract to supply two RF heating systems to an unnamed international medical corporation.

Biome stated the contract underpinned expectations for its Stanelco division's revenues in the first half of 2022, when the systems were scheduled to be designed, built, and functionally tested before being commissioned in one of the customer's UK sites.

The AIM-listed group added that revenue stage payments would be received against milestones in the first half of 2022.

Chief executive Paul Mines said: "This new contract win in the medical space is a significant achievement for the team and comes after the division's recent contract of £247,000 for two fibre optic furnaces also for the first half of 2022.

"This new medical contract is reflective of the increase in enquiry activity noted in previous announcements and is a substantial step in the division's continued efforts to increase its range of applications beyond fibre optics".

As of 1140 GMT, Biome shares were up 9.40% at 328.20p.