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(Alliance News) - Physiomics PLC on Thursday said it won its first contract with an unnamed "UK-based biotech client".
The London-based mathematical modelling company that supports oncology drug development said the contract, which is worth GBP125,000, is for an immune-oncology project due to be completed by the end of the year.
Chief Executive Officer Jim Millen said: "We are delighted to have been chosen by this new client to support the development of its lead asset. We look forward to working with them on this exciting project."
This follows Physiomics's announcement, also on Thursday, regarding a contract extension by its existing client Merck KGaA involving pre-clinical and clinical modelling and simulation of anti-cancer regimens involving combinations of DNA damage and repair agents.
Merck is a Darmstadt, Germany-based company specialising in healthcare, life sciences and electronics.
The contract award will be completed over the next three months, Physiomics said.
Shares in Physiomics were up 1.5% at 0.99 pence each in London on Thursday afternoon. In the previous six months, it is down 76%.
By Sabrina Penty; Alliance News reporter
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