Joint servs alliance executed with Jubilant Biosys

RNS Number : 1810P

Physiomics PLC

29 September 2011

 



Physiomics plc

("Physiomics" or the "Company")

Joint services alliance executed with Jubilant Biosys

Physiomics (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has now executed its Joint Services Alliance with Jubilant Biosys Limited ("Jubilant").

Further to the announcement of 31 August 2010 and 8 March 2011, Physiomics can confirm that the Alliance Agreement between the Company and Jubilant (the "Agreement") has now been executed.

Pursuant to the terms of the Agreement (which is not exclusive) both parties have agreed to work together for the purpose of maximising their respective income from joint business opportunities. The Directors believe that the combination of Jubilant's experimental capabilities and Physiomics' Virtual Tumour technology will provide a unique proposition to potential customers. Moreover, it potentially offers clients a 'one-stop shop' to select optimal drug regimens as they design their early clinical studies.

Whilst no immediate revenue is generated by Physiomics on signing this agreement, the Directors believe that through Jubilant's global business network they will have an increased number of opportunities to market the Virtual Tumour technology from which new sales may be generated.

Dr Mark Chadwick, CEO of Physiomics, said

"We are delighted to be teaming up with Jubilant, a global leader in drug discovery and development services. We anticipate that joining forces with them will lead to enhanced project flow and further development of our services."

Enquiries:

Physiomics plc                                                  

Dr Mark Chadwick, CEO

[phone]

WH Ireland Limited

Katy Mitchell

[phone]

Information on Physiomics plc

Physiomics (AIM:PYC) is a computational systems biology services company applying simulations of cell behavior 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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