Last checked at 2 Feb 2015 07:00
Physiomics plc
("Physiomics") or ("the Company")
Termination of Equity Swap Agreement
Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that, by mutual agreement, it has terminated its Equity Swap Agreement with YA Global Master SPV, Ltd. ("YAGM"), previously announced on 25th July 2014. YAGM will remain as ordinary shareholders but with no further obligations under the SWAP agreement. YAGM remains a supportive shareholder in Physiomics and we have been advised that it has placed the shares onto its long book.
Dr Mark Chadwick, CEO of Physiomics, commented: "We are pleased to have concluded this agreement by mutual agreement."
Enquiries:
Physiomics plc
Dr Mark Chadwick, CEO
+44 (0)1865 784 980
WH Ireland Limited (broker/nomad)
Katy Mitchell
+44 (0) 161 832 2174
About Physiomics plc
Physiomics (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. 80-90 per cent of all clinical drug candidates fail to reach the market and estimates 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 million1.
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 the most important molecular events taking place during the human cell cycle and apoptosis processes. The company's SystemCell® technology enables the simulation of populations of "virtual cells". The company has also developed a "Virtual Tumour" model to simulate the effect of anti-cancer drugs on tumour growth. The models are used to optimise compound design and to design drug schedules and combination therapies.
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