13 February 2025
The information communicated within this announcement is
deemed to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018
as amended by
virtue of the Market Abuse (Amendment) (EU
Exit) Regulations 2019. Upon publication of this
announcement, this inside information is now considered to be in
the public domain.
The Directors of the Company accept responsibility for the
content of this announcement.
Physiomics plc
("Physiomics" or the "Company")
Physiomics completes Placing to fund
growth opportunities
Launch of WRAP Retail
Offer
Physiomics plc (AIM: PYC), a leading
mathematical modelling and data science company supporting the
development of new therapeutics and personalised medicine
solutions, is pleased to announce that it has completed a placing,
conditional on Admission, of, in aggregate, £430,000 (gross) from
the issue of 86,000,000 new ordinary shares of £0.004 each (the
"Placing Shares") at an issue price of £0.005
per Placing Share (the "Placing Price") through the Company's broker,
Hybridan LLP (the "Placing"). The Placing Price represents
a discount of approximately 37.5 per cent. to the mid-market
closing price of an ordinary share on 12 February 2025 (being the
latest practicable date prior to this announcement).
The Company will also shortly be launching a
retail offering to the Company's existing shareholders to raise up
to an additional £70,000 by way of the issue of a further
14,000,000 new ordinary shares of £0.004 each (the "WRAP Retail Offer Shares") at the Placing
Price.
In order to further develop its business and
accelerate growth, the Company is raising funds to carry out the
following activities and for general working capital.
·
Mathematical Modelling Consulting Service
o Recruitment of
further technical team members to accelerate the conversion of the
pipeline and support service delivery;
o Investment in
Business Development and Marketing to build and strengthen the
pipeline, expand into new therapeutic areas, further develop its
data science offering and refresh messaging; and
o Explore
strategic options to accelerate the growth of modelling
services.
·
Biostatistics Consulting Service
o Organic growth
of the service though Business Development and Marketing to acquire
clients; and
o Explore
strategic options to accelerate the growth of biostatistics
services.
·
Personalised Medicine Tool Development
o Explore a
deeper relationship with DoseMe to develop models to be implemented
on their platform; and
o Implementation
of the Company's current personalised dosing tool on the DoseMeRx
Platform enabling it to be made available to clinicians across the
US.
·
General Working Capital
The Company has made significant progress since
its last placing in July 2024, including:
· Dr
Mark Davies joined the Company as the Head of Quantitative
Pharmacology and Data Science;
·
Launch of biostatistics services and expansion of core
consulting to data science and bioinformatics;
· New
contract awards from existing clients including Cancer Research UK,
and another contract with Numab Therapeutics AG;
·
Publication of peer-reviewed papers with a former large
pharma client Astellas Pharma Inc. and with client Merck
KGaA;
·
Predict-ONC trial received regulatory and ethical approval;
and
· Dr
Peter Sargent (appointed CEO in January 2024) implemented a
restructuring of operating staff to better position the business
for growth.
Retail
Offering:
The Company is pleased to announce that a
retail offer to existing shareholders will be shortly launched via
the Winterford Retail Access Platform ("WRAP"), to raise up to an additional
£70,000 (the "WRAP
Retail Offer"), through the issue of up to
14,000,000 WRAP Retail Offer Shares, at the Placing
Price.
The proceeds of the WRAP Retail Offer will be
utilised in the same way as the proceeds of the Placing. For the
avoidance of doubt, the WRAP Retail Offer is not part of the
Placing. Completion of the WRAP Retail Offer is conditional,
inter alia, upon the
completion of the Placing, but completion of the Placing is not
conditional on the completion of the WRAP Retail Offer. The WRAP
Retail Offer is conditional on the WRAP Retail Offer Shares being
admitted to trading.
The Company values its shareholder base and
believes that it is appropriate to provide its existing retail
shareholders in the United Kingdom the opportunity to participate
in its fundraising.
The WRAP Retail Offer is expected to close at
11.00 a.m. on 17 February 2025.
Admission and
Total Voting Rights
Application will be made for the Placing Shares
to be issued pursuant to the Placing and the WRAP Retail Offer
Shares to be issued pursuant to the WRAP Retail Offer and each to
be admitted to trading on AIM and dealing is expected to commence
on or around 18 February 2025 ("Admission"). A further announcement
regarding the enlarged issued share capital for the purposes of the
Financial Services Authority's Disclosure Guidance and Transparency
Rules will be made following completion of the Placing and the
WRAP Retail Offer.
Dr Peter
Sargent, CEO, commented:
"We want to
thank our loyal shareholders for their continued support.
Over the last 12-months, Physiomics has achieved a record year for
the total value of contract wins and is tracking in line with
expectations for the full year ending 30 June 2025. The
quality and impact of the Company's solutions can be evidenced in
the two recent publications, with partners Astellas Pharma Inc and
Merck KGaA, but also the success of Numab Therapeutics' NM26 asset
- an early clinical programme supported by Physiomics prior to
being acquired by J&J for US$1.2 billion. These recent
case studies will become invaluable tools in building our pipeline
further and winning new business. With this latest round of
funding, investment is being made in key growth initiatives across
the business as we remain in active discussions with a variety of
clients on several further contracts."
Enquiries:
Physiomics
plc
Dr Peter Sargent, CEO
+44 (0)1235 841575
Hybridan LLP
(Broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Strand Hanson
Limited (NOMAD)
James Dance & James Bellman
+44 (0)20 7409 3494
Notes to
Editor
About Physiomics
Physiomics plc combines cutting edge
PKPD and QSP modelling and data science techniques, along with deep
biology expertise, to help biotech and pharma companies streamline
their drug development journeys.
Our approach is to derive insight
from all relevant data in order to de-risk decision making and
optimise design research across discovery, pre-clinical and
clinical studies.
Through use of bespoke models and
our proprietary Virtual Tumour technology, the Physiomics team has
informed the development of over 100 commercial projects, over 50
targets and 75 drugs. Clients include Merck KGaA, Astellas, Bicycle
Therapeutics, Numab Therapeutics & Cancer Research
UK.
