Business
Trading Statement
Trading Statement.
About this update from Physiomics Plc
[{"type":"text","content":"\n RNS Number : 0816A Physiomics PLC 01 October 2009 \n \nTrading Update\n\nPhysiomics plc ('Physiomics' or 'the Company')\n\nHighlights:\n\n\n\nRevenue for year ended 30 June 2009 is expected to exceed the forecast of £440k made in July 2008 \n\n\nGood progress on Lilly collaboration, with license agreement signed in April 2009\n\n\nAchievement of second year milestone on Tempo project\n\n\nLooking to leverage Physiomics' technology for non-pharmaceutical application \n\n\n\nTrading Update \n\nPhysiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to update the market on its trading performance for the financial year ended 30 June 2009. Revenues for the year were stronger than anticipated in a previous trading statement issued on 28 July 2008 and we were able to build on the improvement set out in the Interim statement issued in February 2009.\n\nConversion of debt into equity announced in August 2009 totalling £24k has also helped to reduce the deficit in equity shareholders' funds which stood at £102k at 31 December 2008. \n\nSince the publication of its interim results for the period ended 31 December 2008, Physiomics has made good progress with its collaboration with Eli Lilly and Company ('Lilly'), and in particular has announced on 2 April 2009 a license agreement with Lilly for a customised version of its 'ModelPlayer™' for in silico simulations of unspecified anticancer drugs. These are project specific licences. \n\nThe Company is in discussion with a number of major players in the oncology sector and expects to be able to say more in the near future.\n\nFurthermore, Physiomics has announced on 23 June 2009 a successful evaluation, by the European Commission, of the results from the second year of the research program 'TEMPO'. This is the most important phase of the project and Physiomics' partners will start imminently to verify in an in vivo pre-clinical model the optimal chronotherapeutic schedules produced by Physiomics. When validated, this will served as ...