Shares in Physiomics (LSE:PYC) rose 11% in early trading on Monday after the company announced its first biometrics contracts and a senior hire to lead the new division.
Jesse Thissen, previously of AstraZeneca, will join as Head of Biometrics on 1 July. His appointment marks the formal launch of a new service line aimed at broadening Physiomics’ biostatistical offering to clients in the pharmaceutical industry.
The company also said it had secured two contracts worth a combined £111,000 from a UK biopharma client. The one-year deals will involve biostatistical consulting and programming support for ongoing clinical programmes.
Chief executive Dr Peter Sargent called the developments "a very exciting time" for the company, highlighting the role of biometrics in reshaping Physiomics' future.
Oxford-based Physiomics provides modelling and simulation services to the pharmaceutical sector and is now looking to expand its footprint with a deeper focus on clinical data analytics.
The shares rose 0.053p to 0.51p.