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(Sharecast News) - Oncology consultancy Physiomics announced on Friday that it has been awarded a contract by a new client, Japan-based global pharmaceutical company Astellas Pharma.
The AIM-traded firm said the contract was for a modelling project involving its 'Virtual Tumour' immuno-oncology model, and related to an undisclosed Astellas asset.
It said the work was expected to be completed this calendar year.
The precise value of the contract could not be disclosed due to commercial confidentiality, but the board said it was around 20% of the company's last full-year total income to 30 June 2019.
"We are delighted to have been awarded this contract by Astellas, a global pharmaceutical company with a strong oncology focus," said chief executive officer Dr Jim Millen.
"We look forward to working with this important new client to support its oncology development activities."
At 0944 BST, shares in Physiomics were down 17.09% at 7.71p.
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