(Alliance News) - Physiomics PLC on Monday said that it has been awarded a contract by the University of Sheffield to support a grant-funded project focused on an insect model of cancer treatment.
Physiomics is a mathematical modelling company that supports oncology drug development.
The work under the contract award is valued at GBP45,000, and will start in the second half of the calendar year.
It follows on from a pilot project with the university, and is focused on the development of an insect model of cancer that could be used to screen new drugs prior to pre-clinical testing in more traditional models of cancer.
Physiomics' role will be to create mathematical models based on experimental data. It will also provide advice and guidance on the possible commercialisation of the technology.
"We are delighted to have been selected once again by The University of Sheffield to support a highly innovative research program with our analytical and modelling capabilities," said Chief Executive Officer Peter Sargent.
"We look forward to working with Dr Campbell and her colleagues and believe that both our analytical capabilities, as well as our contacts and experience within the pharmaceutical industry, could add real value to the initiative."
Physiomics shares were trading 3.7% higher at 1.40 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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