Last checked at 14 May 2010 12:08
Physiomics plc
("Physiomics" or "the Company")
Recent Price Movements and Press Speculation
The directors of Physiomics note the recent price movements and press speculation.
The directors can confirm that the only corporate deal of significance at present is with an Indian Contract Research Organisation (the "ICRO"). It is intended that, if negotiations are successful, Physiomics and the ICRO will execute an agreement pursuant to which Physiomics will develop a predictive cancer model in association with ICRO. It is not anticipated that any revenue will be generated from the first stage of this deal but it may be that, if the first stage is successful, a further revenue generating commercial arrangement will be executed in the future between the parties.
A further announcement will be made in due course, if an agreement is executed.
Enquiries:
Physiomics plc
Dr Christophe Chassagnole, COO
+44 (0)1865 784980
WH Ireland Limited
Katy Mitchell
+44 (0) 161 832 2174
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