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(Alliance News) - Physiomics PLC on Friday said existing client US drugmaker Merck & Co committed to an initial tranche of projects for 2020, with a combined value of GBP250,000.
The oncology consultancy said the projects are expected to be completed during the first six to eight months of 2020. Further, the projects will encompass a range of drug targets and treatment types in both pre-clinical and clinical settings.
"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," said Chief Executive Officer Jim Millen.
Physiomics shares were up 6.7% at 2.72 pence in London on Friday, and Merck shares were up 1.6% at USD91.40 on Wall Street.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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