Business
Company Update
Company Update.
About this update from Physiomics Plc
[{"type":"text","content":"\n \nRNS Number : 3145S Physiomics PLC 02 October 2017 \n\n \nPhysiomics plc \n(\"Physiomics\") or (\"the Company\")\n \nCompany update\n \nPhysiomics plc (AIM: PYC) is pleased to announce positive developments relating to its core oncology and simulation business and to provide commentary on potential business collaborations and progress in diversifying into the personalised medicine space.\n \nPotential Anchor Deal for the Core Modelling and Simulation Business\nThe Company is in term sheet discussions with a major client on a deal that would potentially secure a significant volume of work for the Company over a multi-year period. We aim to conclude this deal in the next three months, with a view to its coming into effect at the beginning of 2018 and further announcements will be made in due course. The directors believe such a deal would represent a very clear and public validation of the Virtual Tumour technology by a global pharmaceuticals company, however there can be no guarantee that any deal with this client will complete.\n \nModelling and Simulation Business Development\nOver the course of this calendar year to date the Company has been in contact with over 50 potential clients (biotech and pharma companies in the oncology space). It has achieved this through attendance at three major partnering conferences, a marketing campaign, leverage of senior management contacts and word of mouth and passive approaches via website or networking locally within the Oxford and broader UK lifescience hub.\nThere are three potential clients (two big one medium pharma) with whom there are active discussions on potential projects and we aim to convert at least one of these potential clients into a contract over the next six months. However, there can be no guarantee that any of these leads will convert, further updates will be provided as appropriate.\n \nDiscussions relating to potential collaborations with other service providers\nIn addition to the direct approaches to clients outlined above, the Company has engaged in discussions with six other larger service provider companies with a view to business collaborations. We also aim to convert one of these collaboration discussions into a deal over the next six months but again there can be no guarantee that this will happen.\...