Ergomed Plc (LON:ERGO) has reported another year of strong growth at its services division while it waits for trial results from a raft of drugs under development.
The company is a hybrid, a pharma services firm that also takes a stake in drugs during the development process.
Revenues in 2016 were £38mln, up 26%, with an order backlog at the end of the year of £70mln.
"With a significant proportion of revenue already secured and a series of upcoming development milestones,” 2017 should also be a good year said Miroslav Reljanovic, chief executive.
"In the next few months we look forward to clinical milestones from two of our co-development partners; lorediplon Phase II results in insomnia and also Zoptrex Phase III results in endometrial cancer.
“Development of our own proprietary products are also on track and we will initiate a Phase IIb study for our lead product PeproStat in the first half of this year from which we expect headline data to be available early in 2018.”