Physiomics secures additional contract with Merck

Drug development consultancy Physiomics has been awarded a further contract with a leading science and technology company Merck.

Physiomics said on Friday that its agreement with Merck, an existing client, was expected to be completed over the next "two to three months" and follows on from the initial tranche of projects with the New Jersey-based firm announced in December 2020.

"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," the AIM-listed firm.

"The contract announced today represents the first such extension and others will be announced as and when they are agreed."

As of 0825 BST, Physiomics shares were up 9.75% at 6.58p.