Last checked at 20 May 2008 07:00
Physiomics plc
The Magdalen Centre
The Oxford Science Park
Robert Robinson Avenue
Oxford
OX4 4GAUK
Tel 01865 784980
Fax 08701 671931
20 May 2008
Physiomics plc ("Physiomics" or "the Company")
Update on EC funded TEMPO project - Achievement of Milestone
Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that, following a successful mid-term review held in Oxford in March 2008 and evaluation of the results by the European Commission, the 3 years research program "TEMPO" that commenced in September 2006 can continue as specified the original grant proposal. This three year programme was established to explore the effect of circadian rhythms (the body's clock) on changes in cancer cell proliferation and the effectiveness of cancer drugs with the knowledge that would be derived used to optimise treatment regimen of individual cancer patients. Physiomics is using its cell simulation technologies to study the effect of cancer drugs on the cell cycle/circadian clock system behaviour, at the cellular level and at the tissue level (by creating a virtual tumour). Then, using software to simulate pharmacokinetics, the profile of concentrations of drug in blood over time after dosing, Physiomics will help establish optimised dosing regimens and delivery schedules.
Physiomics was to expected to receive approximately £169,000 (€252,650) of matched funding over the three year period and if successful would have access to 3 to 5 new therapeutic schedules, optimised to patient profiles for 2 main drug classes against cancer. This knowledge will be used to enhance the Company's own drug discovery programmes.
Following the approval by the commission, €88,480 of the initial pre-financing has been irrevocably granted to the company as consideration of the first year expenses and a second tranche of pre-financing has been received by the company for a total value of €87,840.
Dr Christophe Chassagnole, COO of Physiomics, said:
'We are pleased that Physiomics' Systems Biology technology has been validated by our project partners in the innovative and challenging area of chronotherapy and that the TEMPO programme is delivering the results that the European Commission has been seeking. We are also excited by the possibility of our simulation technology becoming the de-facto tool in designing new chronotherapeutic cancer schedules."
For further information:
Physiomics plc +44 (0)1865 784980
Dr Christophe Chassagnole, COO
E-mail: cchassagnole@physiomics-plc.com
Grant Thornton Corporate Finance +44 (0)20 7383 5100
Philip Secrett, Colin Aaronson
About TEMPO project (LSHG-CT-2006-037543)
In 2006 Physiomics has been selected to participate in the TEMPO Project as one of four Industry partners working closely with four distinguished European academic research groups. The project is coordinated by INSERM unit director Prof Francis Levi, at Paul Brousse hospital in Villejuif (France). TEMPO is a STREP project funded in part by the European Commission through its Life Sciences and Health Sixth Framework programme.
This three year programme is exploring the effect of circadian rhythms (the body's clock) on changes in cell proliferation and the effectiveness of cancer drugs and will use this knowledge to optimise treatment. The aim is to optimise treatment of individual patients taking into account the 24h rhythms generated by the patient's biological clock. Physiomics is using its cell simulation technologies to study the effect of cancer drugs on the cell cycle/circadian clock system behaviour, at the cellular level, the cell population level (virtual Fluorescence-Activated Cell-Sorting experiment) or tissue level (virtual tumour). Using pharmacokinetics simulation in connection with pharmacodynamics profile, Physiomics will help establish one or more physiological relevant drug regimes and delivery schedules.
Physiomics will receive approximately £169,000 (€252,650) of matched funding over the three year period and if successful will share in 3 to 5 new therapeutic schedules according to the patient profiles for 2 main drug classes against cancer and more specifically colorectal cancer. TEMPO develops tools that will enable to select the best administration schedule for anti-cancer drugs, taking into account the genes expression profile of the patient. Under temporal control of the drug administration, the efficacy as well as the toxicity will be controlled in an optimised manner.
For further information, please visit www.chrono-tempo.org
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, estimates(1) 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
(1)Tufts Centre Impact Report 2002