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Physiomics reported a maiden net profit for the year to June, despite cutbacks in R&D expenditure by the pharmaceutical industry.
Turnover at the pharmaceutical sector services company increased five-fold to 0.46m from 0.09m.
Operating profit was 8,600 versus a previous loss of 0.44m.
The group said continuing confidence shown by Eli Lilly was testament to the value of its technology platform, modelling drug/target interactions.
The development of ModelPlayer, customised to deliver data on specific targets of interest, had been an important driver in forming new relationships within the industry.
Physiomics was in discussion with other leading pharmaceutical companies on a number of possible projects, which could generate recurring licence fees for the use of its software.
Story provided by Business Financial Newswire
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