Physiomics plc (AIM: PYC), the oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions, is pleased to announce that its National Institute for Health Research (“NIHR”) Invention for Innovation (“i4i”) programme funded observational clinical study (designated “PARTNER”), has this week received both ethics committee and Health Research Authority (HRA) approval and it is now expected that the study will commence early in 2021.
The PARTNER study is being funded by the UK Department of Health & Social Care, which will provide 100% reimbursement of project costs of up to £150,000 as announced on 10 March 2020. The award project, “Further development of and evidence generation for a precision dosing tool for optimising chemotherapy dosing in advanced prostate cancer (NIHR201282)” will build on the Company’s successful work to date in developing a personalised oncology tool, that has been funded mainly through Innovate UK grants in 2017 and 2018. In particular, the 2018 Innovate UK grant enabled the Company to develop a demonstrator version of a decision support tool to help clinicians treating late-stage prostate cancer to optimise the dosing of docetaxel, a commonly used chemotherapy.
The PARTNER study, originally expected to run over a 12-month period from April 2020, is, as a result of delays associated with the ongoing COVID-19 epidemic, now expected to commence in early 2021. The delay does not impact the total cost or funding required for the study. The study will generate data to further refine and validate Physiomics’ dosing tool and which could potentially be used in future regulatory submissions.
Dr Jim Millen, CEO, said: “In parallel with this study, Physiomics continues to seek additional opportunities to further develop its personalised dosing tool and discussions are ongoing with a company with an established presence in this field relating to a trial of the tool. Further announcements will be made as appropriate.”
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 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 80 projects, involving over 40 targets and 70 drugs, and has worked with clients such as Merck KGaA, Astellas, Merck & Co and Bicycle Therapeutics.
About The National Institute for Health Research (NIHR)
The National Institute for Health Research (NIHR) is funded by the Department of Health to improve the health and wealth of the nation through research. The NIHR is the research arm of the NHS. Since its establishment in April 2006, the NIHR has transformed research in the NHS. It has increased the volume of applied health research for the benefit of patients and the public, driven faster translation of basic science discoveries into tangible benefits for patients and the economy, and developed and supported the people who conduct and contribute to applied health research. The NIHR plays a key role in the Government’s strategy for economic growth, attracting investment by the life-sciences industries through its world-class infrastructure for health research. Together, the NIHR people, programmes, centres of excellence and systems represent the most integrated health research system in the world. For further information, visit the NIHR website (www.nihr.ac.uk).