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About this update from Physiomics Plc
[{"type":"text","content":"\n \n \n RNS Number : 0019O\n Physiomics PLC\n 27 May 2020\n \n \n \n \n \n 27 May 2020\n \n Physiomics plc\n (\"Physiomics\") or (\"the Company\")\n \n \n \n \n Fundraise\n \n \n \n \n \n Physiomics completes £0.83m (gross) fundraise to fund growth opportunities\n \n \n \n \n Physiomics plc (AIM: PYC), the oncology consultancy using mathematical models and its Virtual Tumour™ technology to support the development of cancer treatment regimens and personalised medicine solutions, is pleased to announce that it has completed a placing and subscription, conditional on Admission, to raise approximately £828,750 (gross) from the issue of 23,678,571 new ordinary shares of 0.4p each (\"Ordinary Shares\") at an issue price of 3.5p per share, through Hybridan LLP (the \"Fundraise\").\n \n In the last few years, the Company has made significant progress, including:\n \n • 70% compounded annual growth in total income FY 2017- 2019, culminating in its highest ever total income in FY 2019 of £783k\n \n • >£1m of contracts announced with Merck KGaA since master services agreement announced in November 2017\n \n • Significant new clients CellCentric Ltd (Apr 2018) and Bicycle Therapeutics plc (June 2019) added and repeat contracts signed with both\n \n • Completion of a second Innovate UK grant project focused on personalised treatment of advanced prostate cancer (May 2019) and subsequent presentation of results at NIHR event at Royal Marsden Hospital\n \n • Award of NIHR i4i grant (March 2020) to undertake an observational trial to generate data in support of personalised dosing tool in advanced prostate cancer\n \n • Entering into discussions with companies with an established presence in the field of personalised medicine with a view to exploring how its technology could be commercialised\n \n On 3 March 2020, the Company announced, as part of its unaudited interim results statement, that it held cash and cash equivalents of £434k as at 31 December 2019 and that it had achieved a small positive cash inflow for the six months ended on the same date. On 19 March 2020, the Company further confirmed that it had a strong pipeline of work and the Directors believe that this has been further strengthened since that announcement.\n \n \n In this regard, in the last two working days, the Compa...