Physiomics signs £0.3m of new agreements with Merck

Oncology consulting company Physiomics announced on Monday that it has signed new agreements with its existing client Merck with a total value of £0.3m.

The AIM-traded firm said the projects were expected to be completed over the course of the next six months, and would span a range of drug targets and treatment types in both preclinical and clinical settings, with a particular focus on DNA damage and repair (DDR) agents.

As had been the case in 2021, Physiomics’ board said it expected further contracts to be signed with Merck over the course of 2022.

“We're delighted that we continue to have a strong relationship with Merck and that our predictive modelling capabilities are, we believe, proving highly useful in the design of a number of their key clinical programmes,” said chief executive officer Jim Millen.

“In our view, there is no other company with Physiomics' experience in the field of DDR modelling and with every new project we further develop our capabilities in this field.

“These contracts provide a great platform for our work with Merck in 2022 and we expect further projects to be signed over the course of the full year.”

At 1116 GMT, shares in Physiomics were up 5.83% at 6.35p.