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.
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.
DeepMatter shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are DMTR shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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