Last checked at 30 Nov 2017 13:38
Physiomics plc
("Physiomics") or ("the Company")
Share Price Movement
Following the movement in the Physiomics share price today the Company would like to draw investors' attention to its RNS of the 28th of November in which the Company announced the signing of a Master Services Agreement ("Agreement") with Merck KGaA whose minimum value in the first twelve months of the contract is €500,000 (equivalent to around 60% of our net operating expenses for the financial year ended 30 June 2017). The Company would like to confirm that this represents the expected value of the contract in the first twelve months and that there is no guarantee that it will be higher than this. The Company would also like to confirm that the contract envisages a multi-year agreement with no specific term and that the annual value of services provided under the contract after the first year is not guaranteed. As previously stated, the Company sees this as a significant external validation of its technology platform as well as the cementing of the relationship with a significant big pharma client.
The Company also notes that the 12 projects completed with Merck KGaA since 2012, were in the ordinary course of business. All except two were completed in prior financial periods and their average value was around £30k.
By order of the Board of Physiomics plc.
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
WH Ireland Limited (nomad)
Katy Mitchell, James Sinclair-Ford
+44 (0) 161 832 2174
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341