Contract Win and Commercial Opportunities
Contract win of £119,000 for MIDD modelling; explores commercialisation of personalised dosing software with undisclosed third party.
- Contract value £119,000
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Physiomics plc (AIM: PYC), a leading mathematical modelling, data science and biostatistics company supporting the development of new therapeutics and personalised medicine solutions, is pleased to announce a new contract win valued at £119,000 for model-informed drug development (“MIDD”) modelling, incorporating pharmacokinetic/pharmacodynamic (“PK/PD”) modelling.
The Company also announces that it has entered into non-binding heads of terms with a third party, whose identity is not being disclosed at this stage, to explore additional commercial opportunities for its personalised dosing software and associated intellectual property. Under the heads of terms, the parties will explore the marketing and commercialisation of the technology and its potential application in additional markets, including the wellness sector and potentially the United States. These opportunities remain exploratory: no specific application, commercial terms or revenue have been agreed, and any collaboration remains subject to the negotiation and execution of a definitive agreement.
The opportunities contemplated by the heads of terms are additional to, and do not affect, the Company’s existing programmes for the technology. The grant-funded PREDICT-ONC study with Beyond Blood Diagnostics and Blackpool Teaching Hospitals NHS Foundation Trust, on which the Company expects to provide a further update, including its final findings, in due course; and the Company’s existing engagement with DoseMe, the separate arrangements for the DoseMeRx platform remaining unchanged.
Mike Whitlow, Executive Director of Physiomics, said: “This contract is a strong example of our team’s ability to move quickly and deliver and we are delighted that it was swiftly and efficiently executed. We are equally focused on exploring the wider commercial potential of our personalised dosing technology, and on finding the right opportunities to build value from our relationships and intellectual property.”
For more information about Physiomics and its services, please visit www.physiomics.co.uk.
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