Physiomics plc
("Physiomics") or ("the Company")
Drawdown of SEDA Arrangement
Execution of Loan Agreement
Issue of Equity
Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has drawn down £85,000 in two separate arrangements with YA Global Master SPV Ltd ("YA").
In accordance with the terms of the Company's Standby Equity Distribution Agreement ("SEDA"), which were announced on 22 January 2013, Physiomics has drawn down £20,000 under the SEDA and accordingly has today issued 16,155,088 Ordinary Shares at a price of 0.1238p ("Ordinary Shares"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 5 July 2013.
In addition, Physiomics has today drawn down £65,000 pursuant to a new loan agreement entered into with YA, which is linked to the SEDA (the "Loan"). The Loan is to be repaid from future drawdowns by Physiomics under the SEDA.
Interest accrues on the Loan after 30 days from drawdown at a rate of 10% per annum and the Loan is repayable on demand in the event of a breach of the terms of the Loan Agreement or if SEDA ceases to be in full force and effect.
Following this issue of Ordinary Shares, the total number of shares in issue will increase to 1,522,705,162.
Commenting on the deal, Mark Chadwick, CEO of Physiomics said "This draw down serves to supplement our cash reserves and allow us to pursue in house programmes. We believe this is a cost effective way of raising supplementary finance, especially in the current funding climate, with minimal dilution for existing shareholders and is in line with the Board strategy that led the Company to negotiate the SEDA facility."
Enquiries:
Physiomics plc
Mark Chadwick
+44 (0)1865 784980
WH Ireland Limited
Katy Mitchell
+44 (0) 161 832 2174
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. 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 million1.
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® 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® is a registered trademark of Physiomics plc
1Tufts Centre Impact Report 2002
