Physiomics PLC Merck Contracts (6488X)
20 Diciembre 2019 - 4:30AM
UK Regulatory
TIDMPYC
RNS Number : 6488X
Physiomics PLC
20 December 2019
20 December 2019
Physiomics plc
("Physiomics") or (the "Company")
Merck Contracts
Physiomics plc (AIM: PYC), the oncology consultancy using
mathematical models and its Virtual Tumour(TM) technology to
support the development of cancer treatment regimens for the
biopharma industry, is pleased to announce that, following a
successful collaboration this year its client Merck KGaA ("Merck")
has today committed to an initial tranche of projects for 2020 with
an aggregate value of GBP250,000. These projects are expected to be
completed during the first six to eight months of the next calendar
year, and will span a range of drug targets and treatment types in
both pre-clinical and clinical settings.
The Company notes that, if the projects are completed according
to the expected schedule, the revenue recognised per month for
these Merck contracts during the financial year ending 30 June 2020
will be approximately the same as the previous financial year.
The Master Services Agreement signed on 28 November 2017 remains
in place, however, by comparison with prior years where all
projects were agreed a full calendar year in advance, some projects
will now be signed over the course of the year in order to allow
for greater operational flexibility and to allow us to be more
responsive as the client's needs evolve. Physiomics expects further
contracts to be signed over the course of 2020 however the total
expected value of the contracts across the whole calendar year is
not yet known with certainty. Despite this, the Company believes
that it is currently trading in line with market expectations.
In its 2019 work programme, Physiomics believes it made a
significant contribution in helping Merck to identify optimal
dosing and scheduling options for a variety of programs in the
oncology and immuno-oncology space. Elements of our work have been
presented at conferences such as AACR and PAGE (see
https://www.physiomics.co.uk/wp-content/uploads/2019/06/PYCPAGE2019_Radiation.pdf)
Dr Jim Millen, CEO of Physiomics, said:
"We're delighted that we'll be continuing our long-term program
of work with Merck to provide pre-clinical and clinical predictive
modelling services using our continuously evolving Virtual Tumour
technology. These initial contracts for 2020 provide a great base
upon which to build and we expect further projects to be signed
over the course of the full year."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014.
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
Strand Hanson Ltd (NOMAD)
Richard Tulloch & James Dance
+44 (0) 20 7409 3494
Hybridan LLP (Broker)
Claire Louise Noyce
+44 (0) 20 3764 2341
Notes to Editor
About Physiomics
Physiomics(R) is an oncology consultancy which uses mathematical
PKPD models as well as its proprietary Virtual Tumour(TM)
technology to predict the effects of cancer drugs and treatments
and improve the success rate of drug discovery and development
projects. 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/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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