I am trying to solve a few partial differential equations used in confined compression experiments of Biphasic/Hyperelastic materials - can this toolbox do the job or do I need to look elsewhere?
1. It is certainly possible to try in MATLAB PDE toolbox especially if you do NOT have the time term on the PDE and in this case you will have more chances for success. However you need to introduce your constitutive law into your expressions for the stress tensor and then replace the strain with the displacements by using the kinematic equations connecting strains with displacements so your final PDEs are expressed in terms of displacements.
2, For a much easier and much better probability for success use COMSOL Multiphsyics (that actually originated from FEMlab a special PDE package for Matlab) to directly solve your problem by using the pre-existing Hyperalastic constitutive laws or using the ones you want by just typing in their mathematical form and without the need to create custom material/element routines that other conventional codes require.