Physiomics Regulatory News (PYC)

26 Aug 2005 06:00

Physiomics announces appointment of David Evans as Chairman Oxford, UK, 26 August 2005 The Board of Physiomics plc (AIM:PYC), a Europeansystems biology simulation company, today announces the immediate appointmentof Mr David Evans as Non-Executive Chairman. He succeeds Dr Stephen Parker wholeaves the board to pursue other opportunities.David Evans MBA has extensive small company experience particularly in the lifesciences sector. Mr Evans became Managing Director of Shield Diagnostics in1997, having previously been Finance Director. As Managing Director, he led themerger with Axis to form Axis-Shield in 1999. He was deputy managing directorof the merged company until 2000.Since then, Mr Evans has held a number of non-executive directorships inseveral quoted and unquoted companies.Mr Evans is, or has been, a director of the following companies in the previousfive years:Present directorships Past directorships BBI Holdings plc Acolyte Biomedica Limited Chromogenex plc Axis-Shield plc Eurodiagnostica BV Axis-Shield Diagnostics Limited Immunodiagnostic Systems Holdings plc British Biocell International Limited Microtest Matrices Limited CY Realisations Limited Omega Diagnostics Limited Guardian Laboratories Limited Platform Diagnostics Limited Haptogen Limited Storyland Limited Immunodiagnostic Systems Limited Nestech Limited Plasmatec Laboratory Products Limited Porton Cambridge Limited Scottish Enterprise Tayside Shield Immunologicals Limited David Evans was a director of CY Realisations Limited (previously CytocellLimited) that was placed into creditors voluntary liquidation in April 2003,and a director of Lineplan Limited that was placed into creditors voluntaryliquidation in May 2000 with a deficit to creditors of ‚£30,582. There is noother information that is required to be disclosed pursuant to Schedule 2paragraph (g) of the AIM Rules.Stephen Parker joined Physiomics in March 2004 as Chairman and successfullysteered the business through its initial public offering at the end of 2004. DrParker has recently become a Partner of Celtic Pharma Management LP, a newprivate equity fund specialising in late stage pharmaceutical projects. Celticrecently announced the acquisition of Xenova Group plc, its first majorinvestment.Dr Stephen Parker commented "The progress of the Company since March 2004 hasbeen substantial and this is an exciting period of development for Physiomics.I regret that my commitments with Celtic Pharma have required me to step down,but have every confidence that the business will to continue to growsuccessfully under the leadership of David Evans and John Savin."Dr John Savin, CEO of Physiomics, commented "The Board wishes to express itsthanks to Stephen Parker for his major contribution over a period of profoundchange for the Company. On behalf of the Board I wish him every success in hisnew role."Mr David Evans commented "I am delighted to be joining Physiomics at thisexciting stage in its development. The company has a unique offering inapplying systems biology to the drug development process and I look forward toworking with the Physiomics team to maximise this potential." --ENDS- For further information please contact: Physiomics plcMr David Evans (Chairman) Tel: 07740 084452Dr John Savin (CEO) Tel: 01865 78498 0 Northbank Communications Tel: 020 7886 8150Emma Palmer (financial enquiries)Fiona Brown/Rowan Minnion (media enquiries)Notes to EditorsPhysiomics plcPhysiomics plc (AIM:PYC) is a systems biology company applying computer-basedsimulations of cell behaviour in drug development, aimed at reducing the highcost and attrition rates of clinical trials. As 80-90 per cent of all clinicaldrug candidates fail to reach the market, estimates show even a ten per cent.overall improvement in success rates could reduce the cost of one drug'sdevelopment by up to $242 million, from the current estimate of around $800million.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 is 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 plc Physiomics plc Registered in England and Wales Number 4225086 Registered Office: The Magdalen Centre, Oxford Science Park, Oxford OX4 4GA, UKENDPHYSIOMICS PLC