Physiomics Says Merck Has Committed to Projects Worth a Total GBP270,000
By Joe Hoppe
Physiomics PLC said Thursday that its existing client Merck KGaA
has committed to an initial tranche of projects for 2021, with an
aggregate value of 270,000 pounds ($364,743).
The U.K. oncology drug development consultancy said the projects
are expected to be completed within the first six to eight months
of 2021, and will span a range of drug targets and treatment types
across both pre-clinical and clinical settings.
Further contracts are expected to be signed with Merck in 2021,
bringing the anticipated revenue from the client to at least that
seen in prior years, Physiomics said. This initial order is already
greater than the GBP250,000 announced in December 2019 and
management expect its strong relationship with Merck to
"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," Chief Executive Jim Millen said.
Shares at 0918 GMT were up 0.25 pence, or 5%, at 5.65 pence.
Write to Joe Hoppe at firstname.lastname@example.org
(END) Dow Jones Newswires
December 17, 2020 04:37 ET (09:37 GMT)
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