Physiomics PLC Update: Two Further Extension Projects
24 May 2017 - 4:01PM
RNS Non-Regulatory
TIDMPYC
Physiomics PLC
24 May 2017
Physiomics plc
("Physiomics") or ("the Company")
Update: two further extension projects to advance oncology
candidate with global pharma company
Physiomics plc (AIM: PYC), the Oxford, UK based systems biology
company, is pleased to announce that it has been contracted for two
further extensions to a Virtual Tumour project with a major global
pharmaceutical company, first announced on 1(st) March 2012.
These projects will be performed on a fee-for-service basis.
Dr Jim Millen, CEO of Physiomics, commented:
"We are very pleased to have further extended this
collaboration, showing the value of our Virtual Tumour technology
in supporting the development of follow-on compounds and
indications."
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
WH Ireland Limited (nomad)
Katy Mitchell
+44 (0) 161 832 2174
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341
About Physiomics plc
This update refers to a contract in the ordinary course of
business for Physiomics.
Physiomics (AIM:PYC) is a computational systems biology services
company applying simulations of cell behaviour 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 million(1)
.
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(R) 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(R) is a registered trademark of Physiomics plc
(1) Tufts Centre Impact Report 2002
This information is provided by RNS
The company news service from the London Stock Exchange
END
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