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Physiomics extends lucrative relationship with Merck

Physiomics will once again supply its technology to Merck in 2019, for which it will receive around £435,000

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The two companies have been working together for eight years now

Physiomics PLC (LON:PYC) has extended its relationship with Merck KGaA by signing another lucrative contract with the multi-billion-dollar German firm.

AIM-quoted Physiomics owns a technology that can help to predict the effect of a drug on cancer.

READ: Merck contract boosts Physiomics’ annual revenue

The two companies have entered into contracts worth £435,000 for projects that are due to be completed in 2019.

They have also provisionally agreed that they will aim to publish selected elements of their work at one or more major conferences in 2019.

“We are now entering the eighth year of our relationship with Merck, during which time we have provided a range of pre-clinical and clinical predictive modelling services using our Virtual Tumour technology,” said chief executive Jim Millen.

“We remain immensely proud to be working with one of the world's foremost pharmaceutical companies, in an area as important and rapidly growing as oncology.  We look forward to this collaboration continuing.”

Physiomics shares were flat at 4.15p in early deals on Monday.

Quick facts: Physiomics PLC

Price: 2.51 GBX

AIM:PYC
Market: AIM
Market Cap: £1.8 m
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