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, would like to update its shareholders in light of the rapidly evolving COVID-19 outbreak.
The Company’s first concern is of course for the well-being of its employees and to this end, the Company is pleased to confirm that many of its employees and consultants already work remotely on either a full-time or flexible basis. The nature of the Company’s business is such that remote working can be as effective as office-working and this extends to its interactions with clients, the vast majority of which are also conducted remotely through the use of phone, email, teleconference and screen-sharing technologies.
The Company has a strong pipeline of work, which it expects will keep its project teams occupied until beyond the end of the current financial year ending 30 June 2020. The only material risk that the Board has clear visibility on at this point, is the possibility of a delay in the start of the recently announced i4i-award funded personalised dosing study, due to measures being taken by all hospitals in the UK to minimise non-COVID-19 related activity. Even were this to materialise, the Board believes that it is currently trading in line with market expectations for the current financial year based on current assumptions around the impact of COVID-19.
The Company will continue to closely monitor the UK Government’s advice in relation to COVID-19, as well as the possibly impact on clients in other countries and provide further updates to shareholders as and when appropriate. In the meantime, the Company would like to wish its clients and shareholders a safe and healthy few months as this event unfolds.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
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)20 3764 2341
Notes to Editor
Physiomics® is an oncology consultancy using mathematical models and its Virtual Tumour™ technology to support the development of cancer treatment regimens and personalised medicine solutions. The predictive capability of Virtual Tumour has been confirmed by 55 projects, involving over 25 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 90 years collectively of working in oncology and/or computational biology and over 100 publications in peer reviewed journals.
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