Business
Update: Two Further Extension Projects
Update: Two Further Extension Projects.
About this update from Physiomics Plc
[{"type":"text","content":"\n \nRNS Number : 0270G Physiomics PLC 24 May 2017 \n\nPhysiomics plc \n(\"Physiomics\") or (\"the Company\")\n \nUpdate: two further extension projects to advance oncology candidate with global pharma company\n \nPhysiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has been contracted for two further extensions to a Virtual Tumour project with a major global pharmaceutical company, first announced on 1st March 2012. \n \nThese projects will be performed on a fee-for-service basis. \n \nDr Jim Millen, CEO of Physiomics, commented: \n\"We are very pleased to have further extended this collaboration, showing the value of our Virtual Tumour technology in supporting the development of follow-on compounds and indications.\"\n \n \nEnquiries:\n \nPhysiomics plc \nDr Jim Millen, CEO\n+44 (0)1865 784 980\n \nWH Ireland Limited (nomad)\nKaty Mitchell\n+44 (0) 161 832 2174\n \nHybridan LLP (broker)\nClaire Louise Noyce\n+44 (0) 203 764 2341\n \n \nAbout Physiomics plc\n \nThis update refers to a contract in the ordinary course of business for Physiomics.\n \nPhysiomics (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.\n \nPhysiomics 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...