IXICO plc New contract worth >GBP1.0m (7896Q)

TIDMIXI

RNS Number : 7896Q

IXICO plc

01 November 2021

IXICO plc

("IXICO" or the "Company")

Phase III demyelinating disorder contract award with largest Pharma client worth >GBP1.0m

IXICO plc (AIM: IXI), the AI data analytics company delivering insights in neuroscience, announces that it has been selected by its largest pharma client to provide neuroimaging services for a new Phase III clinical trial focused on a demyelinating disorder. The study will be conducted across 100 sites in 10 countries and is worth more than GBP1.0m over seven years .

This is the second Phase III trial in this disease area that has been awarded to the Company in the last twelve months. This reflects the Company's strategy to diversify into a broader range of neurological disorders identified as having a high unmet clinical need.

Having built an extensive portfolio of proprietary imaging data management and analysis technologies for investigation of neurological disorders since its inception in 2004, IXICO provides advanced neuroimaging solutions and services across the entire drug development lifecycle, from Phase I through to commercialisation. The global prevalence of demyelinating diseases, conditions that result in damage to the protective covering surrounding nerve fibers in the brain, optic nerves and spinal cord such as multiple sclerosis (MS), has risen across the world over the past 10 years, increasing the need for additional drug trials and treatment options.

Whilst this contract was already included within management's expectations for financial performance across the year, it adds to the Company's order book and further increases visibility of future revenues.

Giulio Cerroni, CEO of IXICO, commented: " We are delighted to be awarded the contract for this demyelinating study. Our success in being awarded two such studies during 2021 supports our decision to invest in developing new analytics solutions to a broad range of neurological disorders, including demyelinating diseases which represent an important area of research within CNS. Our mission is to support our clients in their tireless efforts to bring potential treatments to patients suffering from neurological disorders, and this new contract reflects the confidence that clients place in IXICO as their trusted neuroimaging partner for their pivotal CNS studies."

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                                               [e-mail] 
 Paul McManus / Lianne Applegarth                               [phone] 
  / 
 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 @IXICOnews 

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November 01, 2021 03:00 ET (07:00 GMT)