IXICO plc $1.2m contract with new global pharma customer (9990M)

TIDMIXI

RNS Number : 9990M

IXICO plc

20 October 2016

20 October 2016

IXICO plc

("IXICO" or the "Company")

IXICO signs US$1.2m contract with new global pharmaceutical customer

Endorsement of IXICO's growing expertise in the analysis of neurodegenerative diseases and the value of its Assessa(R) platform to pharma partners

IXICO, the brain health company, today announces that it has signed a new contract worth US$1.2m with a top 15 global pharmaceutical company for advanced imaging clinical trial services in a rare neurodegenerative disease, progressive supranuclear palsy ("PSP").

The project is for a Phase IIa clinical study of patients in the early stages of PSP to develop a first-in-class therapy that could prevent further degeneration and will utilise IXICO's TrialTracker(TM) and Assessa(R) digital platforms to collect and analyse MRI data from specialist imaging centres across Europe and North America. The study is expected to complete in 2019 with the potential to be extended further.

This new contract is a further endorsement of the utility of the Assessa(R) digital platform to quantify disease pathology in regions of the brain measuring disease progression in PSP patients. This is in line with the Company's strategy to broaden the application of the Assessa(R) platform to support both the development of novel therapies and the management of patients and treatment decisions in the clinic.

Progressive Supranuclear Palsy (PSP) is a Parkinson's-like neurological condition caused by the premature loss of nerve cells in certain parts of the brain. Over time this leads to difficulties with balance, movement, vision, speech and swallowing. Research suggests around 20,000 people suffer with PSP in the US alone.

Derek Hill, Chief Executive of IXICO, commented: "This contract win adds to our portfolio of clinical trials in PSP and validates the differentiation of our unique TrialTracker(TM) and Assessa(R) digital platforms with a new global pharma customer. We are pleased with the continued progress we are making to grow and evolve relationships within the pharmaceutical industry demonstrating our expertise across a range of neurological indications."

For further information please contact:

 
 IXICO plc 
  Derek Hill, Chief Executive Officer        Tel: +44 20 
  Susan Lowther, Chief Financial Officer     3763 7499 
 
 Shore Capital (Nomad and Broker)          Tel: +44 20 
  Bidhi Bhoma / Edward Mansfield            7408 4090 
 
  FTI Consulting Limited (Investor         Tel: +44 20 
   Relations)                               3727 1000 
   Simon Conway/Mo Noonan/Matthew 
   Moss 
 

About IXICO

IXICO's innovative and proprietary digital healthcare technologies help those involved in researching and treating serious diseases to capture and analyse clinical data to make rapid, informed decisions. In clinical research this includes the phenotyping of patients, quantification of disease pathology and measurement of patient outcomes. In clinical practice the mobile health and digital decision support technologies aid diagnosis, patient engagement and monitoring. IXICO is also collaborating with partners to develop companion digital health products targeted at improving patient outcomes.

The Company's brain health focus includes Alzheimer's disease, Huntington's disease, multiple sclerosis, Parkinson's disease, behavioural health, child and adolescent mental health.

More information is available on www.ixico.com

Assessa(R)

Assessa(R) is a digital decision support platform to support diagnosis of dementia in the clinic and for the quantification of disease pathology and stratification of patients in clinical trials. Available in both research and CE marked medical device versions, Assessa(R) analyses and combines multi model clinical data (such as imaging, genetic, biomarker, demographic, cognitive and functional information) to improve the precision of patient stratification, differential diagnosis and predict likely disease trajectory for an individual patient. The current medical device provides a fully automated quantitative assessment of neurodegeneration and white matter lesions and also includes a disease progression model which provides a prediction of likely disease progression. The research version of Assessa(R) quantifies disease pathology from a broader range of data modalities and incorporates more sophisticated machine learning and disease modelling technologies to model the likely prognoses and disease trajectory for an individual patient.

More information is available on www.myassessa.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

CNTKKLFFQBFXFBX

(END) Dow Jones Newswires

October 20, 2016 02:00 ET (06:00 GMT)