Physiomics plc (AIM: PYC), the oncology consultancy using mathematical models and its Virtual Tumour™ technology to support the development of cancer treatment regimens and personalised medicine solutions, is pleased to announce that, further to its announcements of 27 May, 30 June and 22 July 2020, it has been awarded a contract by a new client, Astellas Pharma Inc. (TSE: 4503) (“Astellas”), a Japanese global pharmaceutical company.
The contract is for a modelling project involving Physiomics' Virtual Tumour™ immuno-oncology model and relates to an undisclosed Astellas asset. The work is expected to be completed this calendar year. The precise value of the contract cannot be disclosed for reasons of commercial confidentiality however it is around 20% of the Company's last full year's total income to the 30 June 2019.
Dr Jim Millen, CEO said: “We are delighted to have been awarded this contract by Astellas, a global pharmaceutical company with a strong oncology focus. We look forward to working with this important new client to support its oncology development activities.”
This announcement is released by Physiomics plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
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) 203 764 2341
Notes to Editor
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™ 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 70 projects, involving over 30 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 120 years collectively of working in oncology and/or computational biology and over 120 publications in peer reviewed journals that have attracted thousands of citations.