Source - SMW
Oncology consultancy Physiomics said it had raised about £829k from a share issue to spend on further developing its business.

New shares in the company were sold at 3.5p each.

Physiomics said it had, in the last two working days, received a 'strong indication' that a significant contract was likely to be signed with a new large pharmaceutical client, with which it has been in discussions since late 2019.

'While is it still possible that the potential new client could withdraw, it is the directors' opinion that this is unlikely,' the company said.

'Should the contract be signed, the work is expected to take two of our technical staff around five months to complete.'

'In order to further develop its business, the company is raising funds through the fundraise to enable it to carry out activities including increasing its sales & marketing spend, recruiting a further member of its technical team and further investing in its personalised medicine technology as well as for general working capital purposes.'

At 9:52am: (LON:PYC) Physiomics PLC share price was -0.55p at 3.9p

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