Physiomics Successfully Completes Innovate UK Grant Project

LONDON (Alliance News) - Physiomics PLC said Monday it has successfully completed the Innovate UK grant cancer treatment project, receiving GBP131,000 in funding over the course of the project.

The UK grant cancer treatment project was originally announced back in January 2017.

In February, the project was signed off by Innovate UK. As a result, in line with expectations, the company received GBP131,000 in funding over the life of the project with GBP81,000 due to be recognised in the current financial year.

For the year to the end of June 2017, Physiomics generated a GBP530,399 loss on revenue - including grant income - of GBP270,465.

"The project "Decision Support System For Stratified Cancer Treatment" analysed data from over 400 oesophageal cancer patients to determine patient and disease specific factors that could help guide treatment to achieve the best outcomes, and created a tool for healthcare professionals to visualise this data," Physiomics said in a statement.

Physiomics - a medical prediction software firm - intends to publish the results over the course of 2018 and is actively seeking additional grants in this space.

Shares in Physiomics were 1.2% lower at 4.87 pence on Monday.