Physiomics PLC Company Update (3145S)
02 October 2017 - 5:00PM
UK Regulatory
TIDMPYC
RNS Number : 3145S
Physiomics PLC
02 October 2017
Physiomics plc
("Physiomics") or ("the Company")
Company update
Physiomics plc (AIM: PYC) is pleased to announce positive
developments relating to its core oncology and simulation business
and to provide commentary on potential business collaborations and
progress in diversifying into the personalised medicine space.
Potential Anchor Deal for the Core Modelling and Simulation
Business
The Company is in term sheet discussions with a major client on
a deal that would potentially secure a significant volume of work
for the Company over a multi-year period. We aim to conclude this
deal in the next three months, with a view to its coming into
effect at the beginning of 2018 and further announcements will be
made in due course. The directors believe such a deal would
represent a very clear and public validation of the Virtual Tumour
technology by a global pharmaceuticals company, however there can
be no guarantee that any deal with this client will complete.
Modelling and Simulation Business Development
Over the course of this calendar year to date the Company has
been in contact with over 50 potential clients (biotech and pharma
companies in the oncology space). It has achieved this through
attendance at three major partnering conferences, a marketing
campaign, leverage of senior management contacts and word of mouth
and passive approaches via website or networking locally within the
Oxford and broader UK lifescience hub.
There are three potential clients (two big one medium pharma)
with whom there are active discussions on potential projects and we
aim to convert at least one of these potential clients into a
contract over the next six months. However, there can be no
guarantee that any of these leads will convert, further updates
will be provided as appropriate.
Discussions relating to potential collaborations with other
service providers
In addition to the direct approaches to clients outlined above,
the Company has engaged in discussions with six other larger
service provider companies with a view to business collaborations.
We also aim to convert one of these collaboration discussions into
a deal over the next six months but again there can be no guarantee
that this will happen.
Personalised Medicine
As set out in our 2016 Annual Report, the Company sees a
significant opportunity in the development of an offering in the
personalised medicine space which involves treating patients based
on their individual and disease characteristics.
The company has made good progress with the Innovate UK Grant
announced earlier this year to develop a prototype decision support
system ("DSS") to improve cancer care by helping medical
professionals make informed treatment decisions based on patient
specific data.
The project has already received positive feedback from our
collaborators (Prof Mark Middleton of Oxford Universities NHS
Foundation Trust and the Oxford Academic Health Sciences Network)
and is now entering a further phase of testing with healthcare
professionals involved in oncology treatment.
Developing a commercial tool will require further work once the
prototype has been completed and to this end the Company has
identified several substantial, non-dilutive funding opportunities
from government grants. There can be no guarantee that these grants
will be awarded and further updates will be provided in due
course.
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
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.
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 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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