Physionomics secures further £0.27m contract from Merck
The London-listed consultancy, which uses mathematical models to support the development of drug treatment regimens and personalised medicine, said the new contract follows on from, and is additional to, the initial tranche of projects with Merck unveiled back in December 2020.
The projects, which altogether have an aggregate value of £270,000, are expected to be completed during the first six to eight months of the next calendar year and will span a range of drug targets and treatment types in both pre-clinical and clinical settings, the Group said.
The Group said these initial contracts for 2021 offer “a great base upon which to build”. Meanwhile, it added that it expects further projects to be signed over the course of the full year.
"We're delighted that we'll be continuing our long-term program of work with Merck to provide predictive modelling services using our continuously evolving Virtual Tumour technology and with a particular focus on clinical translation,” said CEO Dr Jim Millen, back in December.
He added that, “These initial contracts for 2021, provide a great base upon which to build and we expect further projects to be signed over the course of the full year."
As has been its practice since 2019, Merck has awarded contracts to Physiomics in November or December to cover the first two to three quarters of the following calendar year and then extended these or awarded new contracts during the course of the year, it noted.
Follow News & Updates from Physionomics here:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.