Completion of Innovate UK Grant Project

RNS Number : 3209H

Physiomics PLC

12 March 2018

 

12^th March 2018                        

Physiomics plc

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

Completion of Innovate UK Grant Project on Personalised Treatment of Oesophageal Cancer

Physiomics plc (AIM: PYC), a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, is pleased to confirm that is has successfully completed the Innovate UK grant project announced in January 2017.  The project was formally signed off by Innovate UK following a final project meeting in February this year. The Company can confirm that, in line with expectations, it received total funding of £131k from Innovate UK over the course of the project, of which around £81k will be recognised in the Company's current financial year.

The project "Decision Support System For Stratified Cancer Treatment" analysed data from over 400 oesophageal cancer patients to determine patient and disease specific factors that could help guide treatment to achieve the best outcomes, and created a tool for healthcare professionals to visualise this data.  The project was conducted in collaboration with Prof Mark Middleton of Oxford University and the Oxford AHSN, and the Company intends to publicise the key results and findings of the project through an abstract, poster and other publications over the course of 2018 (further announcements will be forthcoming).

The results and learnings from the project have potential applications in both the Company's existing business advising R&D based pharmaceutical and biotech companies as well as in the emerging field of personalised cancer treatment.  In order to further develop the technology the company is actively seeking additional grants in this space (as originally announced in October 2017).

The Company believes that the field of personalised or stratified cancer treatment, whether in R&D or in clinical practice will continue to gain importance in the short to medium term and that the Company is well positioned to contribute towards its development.

Enquiries:

Physiomics plc                                                  

Dr Jim Millen, CEO

[phone]

WH Ireland Limited (nomad)

Katy Mitchell/James Sinclair-Ford

[phone]

Hybridan LLP (broker)

Claire Louise Noyce

[phone]

About Physiomics plc

Physiomics plc (AIM: PYC) is a solutions provider to the R&D-based pharmaceutical and biotechnology industry with a focus on oncology. The Company's Virtual Tumour technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Virtual Tumour has been confirmed by 55 projects, involving over 25 targets and 60 drugs.

Based in Oxford, UK, the Company works with clients worldwide to support their pre-clinical and clinical oncology development programs. Its team of scientists and computer modelling experts provide bespoke solutions encompassing data, analytics and insight.

Physiomics' senior management has academic and commercial expertise, including over 90 years collectively of working in oncology and/or computational biology and over 100 publications in peer reviewed journals.

About Innovate UK

Innovate UK is the UK's innovation-agency. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy.  For further information visit www.innovateuk.gov.uk

 

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