Physiomics PLC Clinical Project Completion and Services Agreement (6248X)
November 28 2017 - 1:00AM
UK Regulatory
TIDMPYC
RNS Number : 6248X
Physiomics PLC
28 November 2017
Physiomics plc
("Physiomics") or ("the Company")
Completion of VT Clinical Project with Merck and announcement of
Master Services Agreement
Physiomics plc (AIM: PYC) is pleased to announce that the human
Virtual Tumour ("VT") project with Merck, a leading science and
technology company, first announced in March 2015, has now been
successfully completed and that it has today entered into a Master
Services Agreement ("Agreement") with Merck. The Agreement
envisages a multi-year relationship and its minimum value to
Physiomics in the first twelve months will be EUR500,000.
Physiomics believes this Agreement represents a significant
milestone in the relationship between the two companies and
reflects the value that it has been able to add over five years of
working with this key client.
Physiomics can now confirm that it has been working with Merck
since March 2012, during which time it has completed twelve
projects involving pre-clinical and more recently clinical
predictions, with other projects in progress.
Physiomics believes that the Agreement represents a significant
external validation of its Virtual Tumour technology by Merck. The
Company believes that its ability to successfully model the
combination effect of treatments having different mechanisms of
action at the cellular level and its ability to scale this up to
allow meaningful predictions of overall tumour growth has provided
unique and valuable insights.
Dr Jim Millen, CEO Physiomics said: "We are very proud to be
working with Merck, one of the world's top pharmaceutical
companies, in an area as important and rapidly growing as oncology.
We believe this Agreement marks the beginning of a new longer term
relationship with this important client".
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
WH Ireland Limited (nomad)
Katy Mitchell, James Sinclair-Ford
+44 (0) 161 832 2174
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341
This information is provided by RNS
The company news service from the London Stock Exchange
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