Physiomics wins new contract with existing client

13th Jun 2024 09:56

(Sharecast News) - Data sciences business Physiomics said on Thursday that it has been awarded a new contract by an existing, large client.

Physiomics said the project involves the use of its proprietary virtual tumour platform to model the client's targeted oncology agents in combination with other modalities to help inform dose and scheduling decisions.

The AIM-listed group stated the value of the contract was £186,000 and expects that it will be completed over the course of 2024. Physiomics also noted that it will be going into its next financial year ending 30 June 2025 with committed revenues of over £500,000.

Chief executive Dr Peter Sargent said: "After many months of discussion and negotiation with the client, I'm delighted that we can now start this substantial project. This win reflects the significant experience and expertise the Physiomics team has built up over the years, in particular around more complex modelling of combination therapies".

As of 0955 BST, Physiomics shares were down 2.00% at 1.32p.

Reporting by Iain Gilbert at Sharecast.com