IXICO plc IXICO secures new contract for GBP3.4 million (7387J)

TIDMIXI

RNS Number : 7387J

IXICO plc

24 December 2020

IXICO plc

("IXICO" or the "Company")

IXICO secures new contract for GBP3.4 million

IXICO broadens its rare disease franchise into SCA3, a rare neurodegenerative condition

IXICO plc (AIM: IXI), the AI data analytics company delivering insights in neuroscience, announces it has been awarded a GBP3.4 million contract to run over c.4.5 years by an existing client for a Spinocerebellar Ataxia type 3 (SCA3) trial. SCA3 , also known as Machado-Joseph disease, is a rare, neurodegenerative condition resulting in movement disorders, rigidity, muscular atrophy and paralysis. Currently there is no treatment to slow down or reverse the progressive course of this terminal disease.

For the study, IXICO will provide operational services and advanced AI neuroimaging solutions for volumetric, diffusion and functional magnetic resonance imaging (vMRI, dMRI, rs-fMRI) as well as magnetic resonance spectroscopy (H-MRS) and quantitative susceptibility mapping (QSM). Having singularly focused on neurological disorders since its inception, IXICO has a long and established track record of enabling biopharmaceutical sponsors to realise the full power of neuroimaging in CNS and rare disease clinical trials.

Lammert Albers, Chief Commercial Officer of IXICO, commented:

"SCA3 is an area with clear, unmet medical needs and we are delighted to be chosen as the neuroimaging partner in this spinocerebellar ataxia trial . Neuroimaging, with its unique ability to reveal extraordinary information about the structural and functional characteristics of the human brain is a powerful tool in CNS studies, and we are proud to support our clients in potentially unlocking new insights into disease progression ."

This contract was included in management's expectations of performance for the current financial year and adds to the Company's strong order book, providing further future revenue visibility.

For further information please contact:

 
 IXICO plc                                                [phone] 
 Giulio Cerroni, Chief Executive Officer 
  Grant Nash, Chief Financial Officer 
 
 Cenkos Securities PLC (Nominated adviser 
  and sole broker)                                        [phone] 
 Giles Balleny / Max Gould (Corporate 
  Finance) 
 Michael F Johnson / Russell Kerr 
  (Sales 
 
 Walbrook PR Ltd                                          [phone] 
 Paul McManus / Lianne Cawthorne                         [e-mail] 
  / 
 Alice Woodings 
 
 

About IXICO

IXICO is dedicated to delivering insights in neuroscience. Our purpose is to advance medicine and human health by turning data into clinically meaningful information, providing valuable new insights in neuroscience and our goal is to be a leading proponent of artificial intelligence in medical image analysis. We will achieve this by developing and deploying breakthrough data analytics, at scale, through our remote access technology platform, to improve the return on investment in drug development and reduce risk and uncertainty in clinical trials for our pharmaceutical clients.

   More information is available on   www.IXICO.com   and follow us on Twitter @IxicOplc 

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December 24, 2020 02:00 ET (07:00 GMT)