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 1st 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 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
