DeepMatter (LON: DMTR) shares have rallied Tuesday after it announced a collaboration with Dr. Reddy’s Laboratories for its DigitalGlassware platform.
Dr.Reddy’s manufactures and markets various pharmaceuticals in India and other regions.
The DigitalGlassware platform is a cloud-based software platform that enables scientists to bring together digitised synthesis protocols (recipes) and time-course sensor streams from a range of analytical data.
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DeepMatter will provide its DigitalGlassware platform to Dr. Reddy’s process development team, which is looking to develop and scale up chemistry procedures to hand over to colleagues.
The AIM-quoted firm said the collaboration is part of its plans to provide its DigitalGlassware platform to major global contract research organisations. In August, the company announced a collaboration to provide its DigitalGlassware platform to the University of Cambridge’s Innovation Centre in Digital Molecular Technologies (iDMT).
Speaking on today’s announcement, Mark Warne, CEO of DeepMatter Group, said: “We are focused on creating value for the world’s largest CROs with our DigitalGlassware platform.
“We are working with them to firmly establish it as the go-to platform for capturing and structuring time-course sensor data in the lab, to enable improved insights for better productivity and discovery.”
DeepMatter shares are up 6.92% at 1.39p following the news. However, its shares are down 30.5% in 2021.
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