Issue of Equity

RNS Number : 2676K

Physiomics PLC

26 July 2013

 



Physiomics plc

("Physiomics") or ("the Company") 

Issue of Equity

On 1 July 2013, Physiomics announced it had drawn down £65,000 pursuant to a new loan agreement entered into with YA Global Master SPV Limited ("YA") (the "Loan"), which was linked to the Company's Stand Equity Distribution Agreement ("SEDA"). It was also announced that the Loan was to be repaid from future share issues to YA by Physiomics under the SEDA.

Accordingly, Physiomics today announces it has issued 24,832,855 Ordinary Shares at a price of 0.1047p per Ordinary Share ("Ordinary Shares") in part satisfaction of that drawdown.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings in the new Ordinary Shares are expected to commence on 1 August 2013.

Following this issue of Ordinary Shares, the total number of shares in issue will increase to 1,547,538,017.

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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