Physiomics secures 'substantial new contract' with existing pharma client

Mathematical modelling and data science company Physiomics has been awarded "a substantial new contract" by an existing large pharmaceutical client.

Physiomics said on Monday that the project involves Pharmacokinetic-Pharmacodynamic modelling in the field of DNA damage/repair field and will help inform clinical dose and scheduling decisions.

The AIM-listed group added that the value of the project was £178k,000 and it was anticipated that it would be completed over the course of the next six months.

Chief executive Peter Sargent said: "We are very pleased that we've been awarded this substantial project and we very much look forward to working with the client team on this exciting project".

As of 0940 GMT, Physiomics shares had shot up 8.00% to 1.35p.

Reporting by Iain Gilbert at Sharecast.com