Physiomics PLC Placing (9499O)
23 May 2018 - 4:01PM
UK Regulatory
TIDMPYC
RNS Number : 9499O
Physiomics PLC
23 May 2018
Physiomics plc
("Physiomics") or ("the Company")
Placing
Physiomics completes placing to fund growth opportunities
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 announce that it has
completed a placing, conditional only on Admission, to raise
GBP525,000.00 (gross) from the issue of 13,125,000 new ordinary
shares of 0.4p each ("Ordinary Shares") at a price of 4.0p per
share, through Hybridan LLP (the "Placing"). Application has been
made for the new Ordinary Shares to be admitted to trading on AIM
and dealing is expected to commence on 31(st) May 2018.
Following the Company's success in signing a deal with Merck
KGaA in November 2017 (expected income of EUR500k in calendar
2018), the signing of three further clients in the first four
months of 2018 (total expected income of GBP153k in calendar 2018)
and the award of a second Innovate UK grant in the field of
personalised cancer treatment (expected income GBP68k in calendar
2018) the Company has had significant interest from potential new
clients. In order to service this level of actual and potential new
business the Company is raising funds through the Placing to enable
it to carry out associated activities including investing in
expanding its in-house team, improving its marketing reach, match
funding for future grant projects, and updating its IT
infrastructure as well as for general working capital purposes.
After the Placing, the number of Ordinary Shares in issue will
increase to 71,910,394. The Company's share capital additionally
comprises 2,481,657,918 Deferred Shares of 0.036p each which are
not quoted and to which no voting rights attach.
For the purposes of the FCA's Disclosure and Transparency Rules
("DTRs"), the issued ordinary share capital of the Company
following this allotment consists of 71,910,394 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 Jim Millen, CEO said: "We are delighted by the continuing
support of current shareholders and the addition of new
institutional investors to the register. The placing price of 4p
per share reflects a 60% premium to the price at which the Company
last raised money in September 2016 (and a discount of 35% to the
closing share price on the 22(nd) May 2018), which is reflective of
the strong commercial traction the company has enjoyed this
financial year including the signing of contracts with three large
global pharmaceutical companies. The directors believe this
fundraising will provide a solid platform to support the growth of
our business and the expansion of our client base".
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
This announcement is released by Physiomics plc and contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
Notes to Editor
About Physiomics
Physiomics plc (AIM: PYC) is a solutions provider to the R&D
based pharmaceutical and biotechnology industry with a focus on
oncology. 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 Virtual
Tumour has been confirmed by 55 projects, involving over 25 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 90 years collectively of working in
oncology and/or computational biology and over 100 publications in
peer reviewed journals.
For more information please visit:
www.physiomics-plc.com
www.twitter.com/Physiomics
www.linkedin.com/company/physiomics-plc/
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END
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