The Company announces that it has completed a placing, conditional only on Admission, to raise £250,000 from the issue of 1,000,000,000 new ordinary shares of 0.004p each (“Ordinary Shares”) at a price of 0.025p per share, through WH Ireland Limited (the “Placing”). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 24 December 2015.
The funds raised from the Placing will be used for working capital purposes.
Following the Placing, the number of Ordinary Shares in issue will increase to 3,481,657,918.
For the purposes of the Financial Services Authority’s Disclosure and Transparency Rules (“DTRs”), the issued ordinary share capital of the Company following this allotment consists of 3,481,657,918 Ordinary Shares with voting rights attached (one vote per Share). There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, Physiomics under the DTRs.
Dr Mark Chadwick, CEO
+44 (0)1865 784 980
WH Ireland Limited
+44 (0) 161 832 2174
Information on Physiomics plc
Physiomics (AIM:PYC) is a computational systems biology services company applying simulations of cell behavior to drug development to reduce the high attrition rates of clinical trials. 80-90 per cent of all clinical drug candidates fail to reach the market and estimates show that an overall ten per cent improvement in success rates could reduce the cost of one drug’s development by as much as $242 million, from the current estimate of around $800 million1.
Physiomics develops computational systems biology models to predict and understand cancer drug efficacy from pre-clinical research to clinical development. Physiomics has created detailed mathematical models incorporating the most important molecular events taking place during the human cell cycle and apoptosis processes. The company’s SystemCell® technology enables the simulation of populations of “virtual cells”. The company has also developed a “Virtual Tumour” model to simulate the effect of anti-cancer drugs on tumour growth. The models are used to optimise compound design and to design drug schedules and combination therapies.
Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in 2004. For further information, please visit www.physiomics-plc.com
SystemCell® is a registered trademark of Physiomics plc
1Tufts Centre Impact Report 2002