Physiomics awarded further contract by Merck
Physiomics plc (AIM: PYC), the oncology consultancy using mathematical models and its Virtual Tumour™ technology to support the development of cancer treatment regimens and personalised medicine solutions, is pleased to announce that it has been awarded a further contract of undisclosed value by its existing client Merck KGaA (“Merck”).
This contract is an extension of one of the projects awarded and announced on 20 December 2019. As stated at that time, Merck has moved to a model where a number of projects will potentially be signed over the course of the year rather than all of them being agreed in advance as in previous years. This latest contract award reinforces the new arrangement with Merck, and the Company hopes that further contracts may be signed over the remaining course of this calendar year.
This project extension is expected to be concluded over the next six months.
Dr Jim Millen, CEO said: “We are delighted that the new arrangement with our long-standing client, Merck, appears to be working well, having already added our first additional project to those announced in December 2019. We look forward to the possibility of further new projects as the year progresses.”
This announcement is released by Physiomics plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
Dr Jim Millen, CEO
+44 (0)1865 784 980
Strand Hanson Ltd (NOMAD)
Richard Tulloch & James Dance
+44 (0) 20 7409 3494
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Notes to Editor
Physiomics plc (AIM: PYC) is an oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The Company’s Virtual Tumour™ technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Physiomics’ technologies have been confirmed by over 70 projects, involving over 30 targets and 60 drugs, and has worked with clients such as Merck KGaA, Merck & Co, Bayer and Lilly.
Based in Oxford UK, the Company works with clients worldwide to support their pre-clinical and clinical oncology development programs. Its team of scientists and computer modelling experts provide bespoke solutions encompassing data, analytics and insight.
Physiomics senior management has academic and commercial expertise, including over 120 years collectively of working in oncology and/or computational biology and over 120 publications in peer reviewed journals that have attracted thousands of citations.