Last checked at 12 Dec 2008 07:30
Physiomics plc
The Magdalen Centre
The Oxford Science ParkRobert Robinson AvenueOxford
OX4 4GAUK
Tel 01865 784980
Fax 08701 671931
12 December 2008
Physiomics plc ("Physiomics" or "the Company")
Placing of Shares
The directors of Physiomics plc (AIM: PYC) today announce that they have placed a total of 249,666,420 Ordinary Shares of 0.04p each ("Ordinary Shares") at a price of 0.1p per share to directors and other investors. The purpose of the placement was to convert a proportion of existing debt into equity including conversion £86,500 of a £100,000 loan note held by EiRx Pharma Limited. New money of £35,000 was also raised.
The Company's Chairman, Dr Paul Harper, has subscribed for 45,045,430 shares. By virtue of its size, the placing to Dr Harper constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. The independent director, having consulted with the Company's nominated adviser, considers the terms of the transaction to be fair and reasonable insofar as the Company's shareholders are concerned.
As a result of the issue of these shares, Physiomics will have 624,639,059 Ordinary Shares in issue with voting rights.
Shares have been issued to the following directors and significant shareholders:
| Number of shares subscribed | Resultant holding | Percentage of total voting rights (624,639,059 shares) | |
| Dr Paul Harper | 45,045,430 | 52,570,787 | 8.42% |
| Dr Christophe Chassagnole | 12,052,240 | 12,189,740 | 1.95% |
| Dowgate Capital Stockbrokers Limited | 30,843,750 | 30,843,750 | 4.94% |
| EiRx Pharma Limited | 86,500,000 | 221,334,208 | 35.43% |
| Billam AG | 28,850,000 | 62,350,000*1 | 9.98% |
| Shackleton Secondaries LP | 35,000,000 | 35,000,000*2 | 5.60% |
*1 Holding includes shares held by Peter Hoskins. Billam AG also has an indirect holding through a 16.5% holding in EiRx Pharma Limited.
*2 Shackleton Ventures Limited also has an indirect holding through a 13.5% holding in EiRx Pharma Limited.
Application is being made for the shares to be admitted to trading on AIM with admission expected to take place on 16 December 2008.
For further information:
Physiomics plc +44 (0)7747 842446
Dr Paul Harper, Chairman
Grant Thornton UK LLP +44 (0)20 7383 5100
Philip Secrett, Colin Aaronson
About Physiomics plc
Physiomics plc (AIM:PYC) is a computational systems biology services company applying simulations of cell behaviour to drug development to reduce the high attrition rates of clinical trials. As 80-90 per cent of all clinical drug candidates fail to reach the market, estimates1 show that an overall ten per cent improvement in success rates could reduce the cost of one drug's development by as much as $242 million, from the current estimate of around $800 million.
Physiomics develops computational systems biology models to predict and understand cancer drug efficacy from pre-clinical research to clinical development. Physiomics has created detailed mathematical models incorporating most important molecular events taking place during the human cell cycle and apoptosis processes. Physiomics developed SystemCell® technology, a multi-cellular environment software, which enables the simulation of population of "virtual cells".
Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in 2004. For further information, please visit www.physiomics-plc.com
SystemCell® is a registered trademark of Physiomics plc
1Tufts Centre Impact Report 2002