LONDON (Alliance News) - Physiomics PLC on Friday said it has identified a number of potential acquisition targets and will be pursuing these, sending its shares higher in early trade.
The company, which provides drug makers with computerised modelling to assist with drug discovery, said it has been pursuing potential acquisition targets for some time, particularly oncology therapeutics companies which would benefit from using its Virtual Tumour and other modelling tools.
It has now identified a number of possible targets, including one where the synergy benefits would be "strong", it said, and will is now pursuing these possible deals, though it stressed there is no certainty a deal will be done.
It did not name any of the potential targets or provide any details on the size of any transaction being considered.
Shares in the company were up 7.8% to 0.062 pence early Friday, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Physiomics (PYC)