Physiomics (LON:PYC) was the best performer on the London Stock Exchange this morning after announcing a new agreement with a “top five pharma company”.
Under the agreement, the AIM quoted developer of models to aid drug discovery will determine the optimal dosing and timing of a combination of two compounds currently under development by this new customer.
“We are delighted to have added a top five pharma to our customer list, our third major pharmaceutical customer,” said chief executive of Physiomics Mark Chadwick.
“If successful, we hope that this first project will lead to the implementation of our technology across several future projects with this customer.”
The project will be performed on a fee-for-service basis.
Investors cheered the news, sending shares in Physiomics up 37.5 percent to 0.17 pence by 8:50am, giving it a market cap of £2.5 million.