Physiomics (LSE:PYC) has secured new contracts with a combined value of more than £205,000, taking the total value of awards received over the past four months to more than £750,000.
The company said the value of contracts awarded during the four-month period is approaching its total revenue for the 2024-2025 financial year.
The latest contracts cover multiple service areas and involve Physiomics’ mathematical modelling and data science capabilities in drug development and personalised medicine.
Physiomics also reported international interest in its cancer treatment modelling for potential commercial and research collaborations.
Physiomics Updates Operations and Management
Alongside the contract awards, Physiomics has been implementing changes to its commercial and operational activities, including measures covering costs and resource allocation.
The company has also promoted Jesse Thissen to chief operating officer.
Physiomics said it is upgrading its IT infrastructure, quality standards and internal processes as it seeks to support larger and more complex projects.
The board believes the recent contract awards reflect initial progress from the company’s increased commercial focus and changes to its operational structure.
More about Physiomics
Physiomics plc provides mathematical modelling, data science, biostatistics and bioinformatics services for drug development and personalised medicine.
Its capabilities include modelling and simulation, biostatistics, data science and biological analysis. The company also operates its proprietary Virtual Tumour modelling technology.
Physiomics said it has contributed to more than 140 commercial projects involving over 125 drug targets and medicines.
Its customers have included Merck KGaA, Astellas, Bicycle Therapeutics, Numab Therapeutics and Cancer Research UK.
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