Physiomics Share News (PYC)

(Sharecast News) - Data science and biostatistics company Physiomics revealed on Friday that it has secured a contract award with a new UK client.

Physiomics said the project will involve the application of population Pharmacokinetic modelling techniques using Phase 1 data to inform the Phase 2 study of a small molecule designed to treat rheumatoid arthritis.

The project, valued at £67,500, was expected to be completed within the next three months and will be the company's first rheumatoid arthritis project, as well as one of the later development stage projects delivered to date.

Physiomics also put in place a Master Service Agreement with the unnamed client to define and agree to broad commercial terms in relation to envisaged further potential projects in the future.

Chief executive Dr Peter Sargent said: "We're delighted to have been selected to support the clinical development of this important programme. This contract award not only represents a new client relationship - the third new client in two months - but also is a reflection of our strategy to broaden our services into new therapeutic areas, being our first project in rheumatoid arthritis. In addition, this project is a great opportunity for us to demonstrate our capabilities in supporting programmes at a more advanced stage of development and is well suited to our expertise. We look forward to contributing meaningful insights that can help accelerate and optimise this molecules progress through the clinic."

As of 0910 BST, Physiomics shares were down 1.82% at 0.43p.

Reporting by Iain Gilbert at Sharecast.com