Physiomics, the mathematical modelling and biostatistics company, saw its shares rise 18% to 0.76p after announcing multiple new contract awards with a combined value of more than £345,000.
The contracts, secured so far this month, comprise a mix of new and follow-on engagements with UK and international biotechnology and oncology-focused organisations, including a Nasdaq-listed clinical-stage company and leading cancer research groups.
The projects will draw on Physiomics' expertise in modelling and simulation, biometrics and data science to support drug development work including phase 1 and 2 clinical data analysis and first-in-human dose selection.
Several are expected to commence imminently, with revenue extending through to the end of 2027.
Chief executive Dr Peter Sargent said the awards reflect continued investment in business development and the team's success in expanding and diversifying the pipeline, adding that a number of additional opportunities are expected to be announced soon.
Hayley Close, head of business development, said the expansion of the client network into larger international companies reflects a strengthening of the company's scientific reputation and growing awareness of Physiomics within the biotech and pharmaceutical sectors.