Physiomics Regulatory News (PYC)

22 Dec 2005 13:04

PHYSIOMICS ANNUAL GENERAL MEETING 2005Oxford, UK 22 December 2005: At the Physiomics plc (AIM:PYC) Annual GeneralMeeting held today in the Magdalen Centre, Oxford, all resolutions were dulypassed. - ENDS - Notes to EditorsPhysiomics plcPhysiomics plc (AIM:PYC) is a computational systems biology services companyapplying simulations of cell behaviour to drug development to reduce the highattrition rates of clinical trials. As 80-90 per cent of all clinical drugcandidates fail to reach the market, estimates show that an overall ten percent. improvement in success rates could reduce the cost of one drug'sdevelopment by as much as $242 million, from the current estimate of around$800 million.Physiomics is currently focused on optimising the design of cancer clinicaltrials as a service to major pharmaceutical companies. In addition, it hassecured an option to in-license two innovative molecules in the cancer areafrom Cronos Therapeutics. Physiomics has a major collaboration with BayerTechnology Services GmbH to develop globally clinical response predictionservices using both companies' proprietary technologies and mathematical cellmodels, including the SystemCell‚® technology developed by Physiomics. In June2005, Physiomics became a distributor of Bayer's PK-Sim‚® product forunderstanding the way pharmaceuticals are distributed round the body.Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in2004. For further information, please visit www.physiomics-plc.comSystemCell is a registered trademark of Physiomics plcFor further information please contact:Physiomics plcDr John Savin (CEO) Tel: + 44 1865 784 980Northbank Communications Tel: + 44 207 886 8150City/Financial Enquiries Emma PalmerScientific/Trade Press EnquiriesFiona Brown/Rowan MinnionENDPHYSIOMICS PLC