2nd Apr 2009 07:00
Physiomics plc ("Physiomics" or "the Company")
Physiomics Announces License Agreement with Eli Lilly
Physiomics (AIM: PYC), the Oxford, UK based systems biology company, is pleased to announce that it has signed a license agreement with Eli Lilly and Company ('Lilly') (NYSE: LLY), the global pharmaceutical company. Under the terms of the agreement, Physiomics will license to Lilly a customised version of its "ModelPlayer" for in silico simulations of unspecified anticancer drugs and Lilly will have the option to purchase additional licenses.
Physiomics' "ModelPlayer" is a stand-alone simulation platform used for in-house model development that can be out-licensed to partners to allow them to perform their own simulations using Physiomics' models. It incorporates a range of features necessary for developing and calibrating models and simulating anticancer drugs.
Dr Christophe Chassagnole, COO of Physiomics, said: 'We are delighted with the continued interest shown by Lilly in Physiomics' technology. We hope that the capability for Lilly scientists to directly use Physiomics' models will strengthen the quality of the interactions within our ongoing research collaborations. This is also an important commercial and technical milestone for Physiomics as this is the first time that we have out-licensed our technology.'
For further information:
|
Physiomics plc Dr Christophe Chassagnole, COO E-mail: [email protected] |
+44 (0)1865 784980 |
|
WH Ireland Ltd David Youngman |
+44 (0)161 832 2174 |
About Physiomics plc
Physiomics plc (AIM:PYC) is a computational systems biology services company applying simulations of cell behaviour to drug development to reduce the high attrition rates of clinical trials. As 80-90 per cent of all clinical drug
candidates fail to reach the market, estimates1 show that an overall ten per cent improvement in success rates could reduce the cost of one drug's development by as much as $242 million, from the current estimate of around $800 million.
Physiomics develops computational systems biology models to predict and understand cancer drug efficacy from pre-clinical research to clinical development. Physiomics has created detailed mathematical models incorporating most important molecular events taking place during the human cell cycle and apoptosis processes. Physiomics developed SystemCell® technology, a multi-cellular environment software, which enables the simulation of population of "virtual cells".
Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in 2004. For further information, please visit www.physiomics-plc.com
SystemCell® is a registered trademark of Physiomics plc
1Tufts Centre Impact Report 2002
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