Physiomics PLC Share Price Movement (0132Y)
November 30 2017 - 8:38AM
UK Regulatory
TIDMPYC
RNS Number : 0132Y
Physiomics PLC
30 November 2017
Physiomics plc
("Physiomics") or ("the Company")
Share Price Movement
Following the movement in the Physiomics share price today the
Company would like to draw investors' attention to its RNS of the
28(th) of November in which the Company announced the signing of a
Master Services Agreement ("Agreement") with Merck KGaA whose
minimum value in the first twelve months of the contract is
EUR500,000 (equivalent to around 60% of our net operating expenses
for the financial year ended 30 June 2017). The Company would like
to confirm that this represents the expected value of the contract
in the first twelve months and that there is no guarantee that it
will be higher than this. The Company would also like to confirm
that the contract envisages a multi-year agreement with no specific
term and that the annual value of services provided under the
contract after the first year is not guaranteed. As previously
stated, the Company sees this as a significant external validation
of its technology platform as well as the cementing of the
relationship with a significant big pharma client.
The Company also notes that the 12 projects completed with Merck
KGaA since 2012, were in the ordinary course of business. All
except two were completed in prior financial periods and their
average value was around GBP30k.
By order of the Board of Physiomics plc.
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
WH Ireland Limited (nomad)
Katy Mitchell, James Sinclair-Ford
+44 (0) 161 832 2174
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341
This information is provided by RNS
The company news service from the London Stock Exchange
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