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Physiomics hails the potential of new alliance

It is joining a network of advisors brought together by Medicines Discovery Catapult, which is charged with supporting innovation in the drugs sector

woman at microscope
The company has developed technology that improves R&D success rates

Physiomics Plc (LON:PYC) said it was excited to be striking up new relationships in the world of oncology after inking a strategic collaboration.

It is joining a network of advisors brought together by Medicines Discovery Catapult (MDC), which is charged with supporting innovation in the drugs sector.

READ: Physiomics extends lucrative relationship with Merck

Physiomics for its part brings with it cutting-edge technology such as its virtual tumour software, which is used to predict the effect of cancer drugs that in turn helps improve R&D success rates.

As part of the tie-up with the MDC, the company will be introduced to “selected potential clients and in return will receive a small commission on the value of any service contracts arising from such introductions”.

Chief executive, Dr Jim Millen, said: "We are delighted to be working with the MDC, an organisation that plays such a key role in supporting emerging biotech companies in the UK.

“We're also excited by the potential that this new relationship offers to connect Physiomics to emerging players in the field of oncology."

In late morning trading, shares in Physiomics were 5.3% higher at 3.95p.

 -- Adds share price --

Quick facts: Physiomics PLC

Price: 2.65 GBX

AIM:PYC
Market: AIM
Market Cap: £1.91 m
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