Physiomics (AIM:PYC) told investors it has won a new contract worth £119,000 for model-informed drug development (MIDD) modelling that incorporates pharmacokinetic/pharmacodynamic (PK/PD) analysis, the mathematical modelling and biostatistics company said Wednesday.
The AIM-listed group, which supports pharmaceutical and biotech clients with drug development and personalised medicine tools, also disclosed non-binding heads of terms with an undisclosed third party to explore wider commercial applications for its personalised dosing software and related intellectual property.
The heads of terms cover marketing and commercialisation of the technology in additional markets, including the wellness sector and potentially the United States, though Physiomics stressed the discussions remain exploratory, with no specific application, commercial terms or revenue yet agreed and any tie-up contingent on a definitive agreement.
The company said these potential opportunities sit alongside, rather than replace, its existing dosing-technology programmes, including the grant-funded PREDICT-ONC study with Beyond Blood Diagnostics and Blackpool Teaching Hospitals NHS Foundation Trust, on which it expects to report final findings in due course, and its separate, unaffected arrangement with DoseMe covering the DoseMeRx platform.
"This contract is a strong example of our team's ability to move quickly and deliver and we are delighted that it was swiftly and efficiently executed," said executive director Mike Whitlow, adding the company is "equally focused on exploring the wider commercial potential of our personalised dosing technology."
The contract win follows a run of awards disclosed by Physiomics this year, including more than £345,000 in new and follow-on contracts announced in May and a further package exceeding £200,000 in July, as the company has described its commercial pipeline as the largest in its history under a newly constituted board.
