GLASGOW-based digital chemistry pioneer DeepMatter has said social distancing in laboratories has increased interest in its products although the impact of the coronavirus is making it harder to clinch contracts.
DeepMatter has developed technology that allows chemists to record huge amounts of information about experiments online for sharing with others.
The company concluded the first commercial sale for its core DigitalGlassware product in August.
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After posting an increase in annual losses yesterday, DeepMatter said the impact of the coronavirus on working practices has increased interest in its products.
Chief executive Mark Warne noted: “The need to either close laboratories or reduce the workforce occupancy within laboratories, implement remote working and share data across offsite and onsite teams has highlighted the benefit of the cloud-based sharing of scientific data.”
The company is in promising discussions with several multi-national organisations.
However, Mr Warne added: “We have seen a protraction of contract negotiations with our target customer base of large pharmaceutical organisations, whose immediate focus has been on the reorganisation of their workforces and the prioritisation of Covid-19 related activities.”
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DeepMatter said it has taken measures to cut costs to mitigate the impact of Covid-19 on the short term conversion of its sales pipeline.
It said these have included the deferment of board and management and employee salaries and the use of government support schemes where appropriate.
The company employs 20 people in Glasgow.
It had £1.2m revenues in 2019, against none in the preceding year. Pre-tax losses widened to £3.4m from £2m.
DeepMatter was spun out of Glasgow university in 2014.