Physiomics plc, the Oxford, UK based systems biology company has signed a new Virtual Tumour deal with a new pharmaceutical company, the 4th large pharma customer for this service.
Providing the announcement on Monday, the company said that the project would be performed on a fee-for-service basis.
Dr Mark Chadwick, CEO of Physiomics, commented:
“It is very pleasing that we have further extended the number of large pharmas starting to use Virtual Tumour. We look forward to adding more such customers as the benefits of our model are more widely understood.”
About Physiomics plc
Physiomics is a computational systems biology services company applying simulations of cell behaviour to drug development to reduce the high attrition rates of clinical trials. 80-90 per cent of all clinical drug candidates fail to reach the market and estimates 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 the most important molecular events taking place during the human cell cycle and apoptosis processes. The company’s SystemCell® technology enables the simulation of populations of “virtual cells”. The company has also developed a “Virtual Tumour” model to simulate the effect of anti-cancer drugs on tumour growth. The models are used to optimise compound design and to design drug schedules and combination therapies.