Physiomics PLC Merck Contracts (9143I)
17 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMPYC
RNS Number : 9143I
Physiomics PLC
17 December 2020
17 December 2020
Physiomics plc
("Physiomics") or (the "Company")
Merck Contracts
Physiomics plc (AIM: PYC), the oncology consultancy using
mathematical models to support the development of cancer treatment
regimens and personalised medicine solutions, is pleased to
announce that its existing client, Merck KGaA ("Merck"), has today
committed to an initial tranche of projects for 2021 with an
aggregate value of GBP270,000. 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.
As has been the case in 2020, the board of Physiomics (the
"Board") expects further contracts to be signed with Merck next
year to bring the total anticipated revenue derived from Merck for
2021 to at least that seen in previous years. Although the total
expected value of such further contracts cannot be known with
certainty, this initial order is greater than the GBP250k announced
in December 2019 and the Board expects its strong relationship with
this long-term client to continue.
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 predictive modelling services using our continuously
evolving Virtual Tumour technology and with a particular focus on
clinical translation. These initial contracts for 2021, 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 plc (AIM: PYC) is an oncology consultancy using
mathematical models to support the development of cancer treatment
regimens and personalised medicine solutions. The Company's Virtual
Tumour(TM) 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 Physiomics' technologies have
been confirmed by over 80 projects, involving over 40 targets and
70 drugs, and has worked with clients such as Merck KGaA, Astellas,
Merck & Co and Bicycle Therapeutics.
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