Ixico pens deal to help develop a therapy for Parkinson's like diesease

Shares in AIM-listed Ixico rose above 22% on Thursday, as the brain health company announced it had signed a $1.2m contract with a global pharmaceutical for imaging clinical trial services for a Parkinson's-like neurodegenerative disease.

The project is for a second phase clinical study of patients in the early stages of progressive supranuclear palsy to develop a therapy that could prevent further degeneration, which will utilise the company’s TrialTracker and Assessa digital platforms to collect and analyse MRI data from imaging centres across Europe and North America.

The study, which is expected to be finished by 2019 with potential to be extended, is in line with the company's strategy to broaden the application of the Assessa platform to support the development of therapies, patients and to aid treatment decisions.

Chief executive Derek Hill said the contract adds to the company's portfolio of clinical trials in progressive supranuclear palsy and validates the differentiation of its TrialTracker and Assessa digital platforms with a global pharmaceutical.

“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."

Progressive supranuclear palsy is caused by the premature loss of nerve cells in certain parts of the brain, which over time this leads to difficulties with balance, movement, vision, speech and swallowing. Around 20,000 people have the disease in the US.

Shares in Ixico were were up 22.13% to 28.70p at 1050 BST.