Award of Grant

RNS Number : 5302H

Physiomics PLC

20 June 2013

 



Physiomics plc

The Magdalen Centre

The Oxford Science Park

Robert Robinson Avenue

Oxford

OX4 4GA

UK

Tel [phone]

Fax [phone]

20 June 2013                   

Physiomics plc

("Physiomics") or ("the Company")

Physiomics awarded a Biomedical Catalyst GRANT from the UK Technology Strategy Board

Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has been awarded a GBP148,465 grant from the UK's innovation agency, the Technology Strategy Board's Biomedical Catalyst fund.  The grant will provide additional support for the development of the Company's flagship Virtual Tumour Clinical platform.

The Company's existing Virtual Tumour platform is used to optimise drug dosing and scheduling in pre-clinical experiments. This helps customers to save time and money, and also helps them improve drug potency.  The new Clinical version of Virtual Tumour under development will be designed to optimise dosing and scheduling in human patients.

More information about the clinical virtual tumour technology may be found on Physiomics website at:

http://www.physiomics-plc.com/services/virtual-tumour-clinical/

Dr Mark Chadwick, CEO of Physiomics, commented:

"We are very pleased to be awarded this prestigious grant. Physiomics has received strong feedback from the majority of existing and potential customers that extending the Virtual Tumour technology into the clinic would be very desirable for them. We look forward to engaging with a large pharma partner in the near future to further accelerate the new platform"

Enquiries:

Physiomics plc                                                  

Dr Mark Chadwick, CEO

[phone]

WH Ireland Limited (broker/nomad)

Katy Mitchell

[phone]

About Physiomics plc

Physiomics (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.

Physiomics 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 cells". The company has also developed a "Virtual Tumour" model to simulate the effect of anti-cancer drugs on tumour growth. The models are used to optimise compound design and to design drug schedules and combination therapies.

Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in 2004. For further information, please visit www.physiomics-plc.com

SystemCell® is a registered trademark of Physiomics plc

¹Tufts Centre Impact Report 2002

About the Technology Strategy Board

The Technology Strategy Board is the UK's innovation agency.  Its goal is to accelerate economic growth by stimulating and supporting business-led innovation.  Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit www.innovateuk.org.

 

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