DeepMatter generates first revenue from 'DigitalGlassware' platform

Digital chemistry company DeepMatter has received the first revenue-generating order for its ‘DigitalGlassware’ platform, it announced on Thursday.

The AIM-traded firm said the first purchase order was from o2h discovery - an Anglo-Indian medicinal chemistry service provider that had end-to-end capability to take drug discovery programmes to the Investigational New Drug filing stage.

It said o2h participated in its pioneer programme during 2018, trialling the DigitalGlassware platform in both its research and process chemistry operations.

Having participated in the programme, and being “sufficiently impressed” by the DigitalGlassware technology, o2h had elected to pay for the provision of a greater number of user licences.

DeepMatter said the roll out would enable o2h to use DigitalGlassware as part its drug-discovery collaboration with a strategic customer.

The company described the DigitalGlassware platform as an integrated software, hardware and machine learning-enabled platform for scientists across research and process development.

It allowed chemistry experiments to be “accurately and systematically” recorded, coded and entered into a shared data cloud.

The platform was designed to enable chemists to work together effectively; share the details of their experiments from anywhere and in real-time, so the work was not needlessly duplicated, time and money was not wasted, and ultimately new discoveries were made faster.

“This is a key milestone for the company, and we are delighted that o2h has progressed from our pioneer programme to deploying DigitalGlassware across one of its laboratories,” said DeepMatter chief executive officer Mark Warne.

“This deal demonstrates that our platform is delivering tangible value to the industry and the fact that o2h, renowned for being innovative and forward thinking, is the first of our partners to sign a contract of this nature with us, underlines the disruptive potential of our platform.

“This is the first step on our journey towards monetisation of the platform in line with our current expectations.”

Sunil Shah, chief executive officer of o2h, added that the firm was “delighted” to have been asked to join the DigitalGlassware pioneer programme, and was “very impressed” by its potential to digitise chemistry.

“The software compliments our proprietary ‘AI Chemistry in The Cloud’ application, which is the world's first app to project manage external drug discovery programmes.

“Combined with the DigitalGlassware platform, we are accelerating our mission to become the first fully-integrated digital chemistry-enabled service provider,” Shah said.

“We look forward to working together with DeepMatter in the future and building on our strong relationship.”