Physiomics plc (AIM: PYC), a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, is pleased to confirm that, based on its unaudited management accounts for the year ended 30 June 2020, the Company is trading in line with analyst expectations.
Trading for the current financial year has started well with a further contract with Bicycle Therapeutics (announced on 30 June 2020), a strong continuing relationship with Merck KGaA as well as a maiden contract (announced 31 July 2020) with Astellas, a Japanese global pharmaceutical company, for a modelling project involving Physiomics’ Virtual Tumour™ immuno-oncology model. In addition, the Company’s investment in additional marketing capability has led to an increased volume of introductory calls with potential new clients, some of which the Board hopes will be converted into further projects in the second half of this calendar year.
Net cash as at 30 June 2020, stood at £1.1m, based on the Company’s unaudited management accounts, strengthened by an oversubscribed placing announced on 27 May 2020, which raised gross proceeds of £0.83m.
The Company expects to publish its final audited results for the year ending 30 June 2020 during the week commencing 28 September 2020.
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 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.
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