French R&D Tax Credit Accreditation

RNS Number : 7817T

Physiomics PLC

18 December 2012

 



Physiomics plc

The Magdalen Centre

The Oxford Science Park

Robert Robinson Avenue

Oxford

OX4 4GA

UK

Tel [phone]

Fax [phone]

18 December 2012

Physiomics plc

("Physiomics") or ("the Company") 

French R&D Tax Credit Accreditation

Physiomics plc (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has been recognised by the French Ministry of Higher Education and Research as an eligible research organisation for French companies seeking to claim French Research and Development tax credits ("Agrément crédit d'impôt recherche") on their research projects (2012 to 2014).

The "crédit d'impôt recherche" accreditation allows eligible pharmaceutical and biotechnology customers established in France and subject to French corporate tax to claim a significant corporation tax credit on the cost of research projects outsourced to Physiomics.

Further information is available on the site of the French Ministry of Higher Education and Research - www.enseignementsup-recherche.gouv.fr

Dr Christophe Chassagnole, COO of Physiomics, commented:

"We are delighted to receive this accreditation by the French ministry of Higher Education and Research. We believe that this will give us greater commercial opportunities in the French market"

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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