Placing

RNS Number : 9499O

Physiomics PLC

23 May 2018

 

Physiomics plc

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

Placing

Physiomics completes placing to fund growth opportunities

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 announce that it has completed a placing, conditional only on Admission, to raise £525,000.00 (gross) from the issue of 13,125,000 new ordinary shares of 0.4p each ("Ordinary Shares") at a price of 4.0p per share, through Hybridan LLP (the "Placing"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealing is expected to commence on 31^st May 2018.

Following the Company's success in signing a deal with Merck KGaA in November 2017 (expected income of €500k in calendar 2018), the signing of three further clients in the first four months of 2018 (total expected income of £153k in calendar 2018) and the award of a second Innovate UK grant in the field of personalised cancer treatment (expected income £68k in calendar 2018) the Company has had significant interest from potential new clients. In order to service this level of actual and potential new business the Company is raising funds through the Placing to enable it to carry out associated activities including investing in expanding its in-house team, improving its marketing reach, match funding for future grant projects, and updating its IT infrastructure as well as for general working capital purposes.

After the Placing, the number of Ordinary Shares in issue will increase to 71,910,394.  The Company's share capital additionally comprises 2,481,657,918 Deferred Shares of 0.036p each which are not quoted and to which no voting rights attach.

For the purposes of the FCA's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following this allotment consists of 71,910,394 Ordinary Shares with voting rights attached (one vote per Share).  There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, Physiomics under the DTRs.

Dr Jim Millen, CEO said: "We are delighted by the continuing support of current shareholders and the addition of new institutional investors to the register.  The placing price of 4p per share reflects a 60% premium to the price at which the Company last raised money in September 2016 (and a discount of 35% to the closing share price on the 22^nd May 2018), which is reflective of the strong commercial traction the company has enjoyed this financial year including the signing of contracts with three large global pharmaceutical companies.  The directors believe this fundraising will provide a solid platform to support the growth of our business and the expansion of our client base". 

Enquiries:

Physiomics plc                                                   

Dr Jim Millen, CEO

[phone]

WH Ireland Limited (Nomad)

Katy Mitchell

[phone]

Hybridan LLP (Broker)

Claire Louise Noyce

[phone]

This announcement is released by Physiomics plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Notes to Editor

About Physiomics

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, and has worked with clients such as Merck KGaA, Merck & Co, Bayer and Lilly.

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.

For more information please visit:

www.physiomics-plc.com

www.twitter.com/Physiomics

www.linkedin.com/company/physiomics-plc/

 

END

 

 

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