Physiomics Secures New UK Contract for Rheumatoid Arthritis Treatment
Why we think this is good
The announcement of a new contract win with a UK client is a positive development for Physiomics. The contract, valued at £67,500, represents the company's first project in the rheumatoid arthritis therapeutic area and one of its more advanced development stage projects. This suggests the company is successfully diversifying its client base and expanding into new therapeutic areas, which could lead to further opportunities. While the contract value is relatively small compared to the company's market cap, it is a step in the right direction and demonstrates the company's ability to secure new business.
Key Points
- New contract award with a UK client
- Project valued at £67,500
- First rheumatoid arthritis project for Physiomics
- One of the company's more advanced development stage projects
- Master Service Agreement in place for potential future projects
Summary
Physiomics Plc, a leading mathematical modelling, data science and biostatistics company, has announced a new contract award with a UK client. The project, valued at £67,500, will involve the application of population Pharmacokinetic (PK) modelling techniques using Phase 1 data to inform the Phase 2 study of a small molecule designed to treat rheumatoid arthritis. This contract represents Physiomics' first rheumatoid arthritis project and one of its later development stage projects delivered to date. The company has also put in place a Master Service Agreement with the client to define and agree broad commercial terms for potential future projects.