Innovate UK Award Project
14th May 2019
("Physiomics") or ("the Company")
Physiomics completes personalised oncology Innovate UK award project
Physiomics plc (AIM: PYC), a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry, is pleased to confirm that is has successfully completed the Innovate UK grant project announced in March 2018. The project was formally signed off by Innovate UK following a final project meeting in April 2019. The Company can confirm that, in line with expectations, it received total funding of £68k from Innovate UK over the course of the project. This covers the anticipated costs of the project.
The project "Prostate Cancer Chemotherapy Precision Dosing" addressed the acknowledged challenge of effective under- or over-dosing of individual patients following administration of the same amount of chemotherapy agent, due to the variability of patients' responses to drugs. Using routine blood tests as inputs, the Physiomics tool aims to provide clinicians with a prediction of both toxicity and efficacy for any given dose thus allowing them to balance these two factors and optimise treatment for individual patients. The potential benefits of using the tool include:
· Reduced costs and morbidity associated with drug overdosing and consequent toxicity
· Improved efficacy as a result of the avoidance of underdosing
During the project Physiomics has generated interest and engagement with medical oncologists involved in the chemotherapy treatment of prostate cancer via various routes including:
· Presentation of the project in the form of a poster at the 2019 American Association for Cancer Research Annual Meeting
· Interviews conducted by the Oxford Academic Health Sciences Network ("AHSN")
· Engagement with the National Institute for Health Research ("NIHR") signposting service
· Participation (by invitation) in an "SME Dragon's Den" event jointly organised by the NIHR, the Institute of Cancer Research and DigitalHealth.London's Accelerator
Physiomics is exploring the approval of the tool as a medical device which would likely require further clinical validation before it could be commercialised, but it is possible the tool could be used earlier in research settings thus creating the possibility of nearer term revenue potential. In support of the commercialisation of the tool, the Company is approaching potential strategic partners, clinical collaborators and grant providers with a view to generating the support required to progress this exciting opportunity. Whilst there is no guarantee that this project will progress, a further update will be provided in the second half of this calendar year if there are any further developments .
Dr Jim Millen, CEO
+44 (0)1865 784 980
WH Ireland Limited (NOMAD)
+44 (0) 161 832 2174
Hybridan LLP (Broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Notes to Editor
Physiomics plc (AIM: PYC) is a provider of technology-based solutions to predict the effects of cancer treatment regimens for the biopharma industry. The Company's Virtual Tumour™ technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Physiomics' technologies have been confirmed by over 70 projects, involving over 30 targets and 60 drugs, and has worked with clients such as Merck KGaA, Merck & Co, Bayer and Lilly.
Based in Oxford UK, the Company works with clients worldwide to support their pre-clinical and clinical oncology development programs. Its team of scientists and computer modelling experts provide bespoke solutions encompassing data, analytics and insight.
Physiomics senior management has academic and commercial expertise, including over 120 years collectively of working in oncology and/or computational biology and over 120 publications in peer reviewed journals that have attracted thousands of citations.
About Innovate UK
Innovate UK is the UK's innovation agency. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy. For further information visit www.innovateuk.gov.uk
About Oxford Academic Health Science Network
The Oxford Academic Health Science Network is a partnership of NHS providers, commissioners, universities and life science companies working together to improve health and prosperity in Berkshire, Buckinghamshire, Milton Keynes and Oxfordshire. For further information visit www.OxfordAHSN.org
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