Drawdown pursuant to SEDA Arrngmnt/Issue of Equity

RNS Number : 2012Q

Physiomics PLC

10 October 2013

 



Physiomics plc

("Physiomics") or ("the Company") 

Drawdown pursuant to SEDA Arrangement

Issue of Equity

Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has drawn down a total of £240,287 under its Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd ("YA").

In accordance with the terms of the SEDA, which were announced on 22 January 2013, following receipt of these funds Physiomics has today issued 160,191,333 Ordinary Shares (equating to 9.38% of the enlarged issued share capital of the Company) at an average price of 0.15p per Ordinary Share.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 16 October 2013.

Following this issue of Ordinary Shares, the total number of shares in issue will increase to 1,707,729,350.

The proceeds of the draw down were utilised in part to repay the balance of £39,000 of a loan it had drawn down from YA which was announced on 1 July 2013. The net proceeds of the draw down amounting to a total of approximately £196,000, have now been received by the Company.

Enquiries:

Physiomics plc                                                  

Mark Chadwick 

[phone]

WH Ireland Limited

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

 

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