Ixico strikes collaboration deal with Microsoft

Data analytics company Ixico said on Monday that it had struck a collaboration agreement with tech giant Microsoft to develop its artificial intelligence analytics platform for the global pharmaceutical industry.

The AIM-listed group said combining its portfolio of AI data analytics and scientific expertise in neurological diseases with Microsoft's cloud-based AI infrastructure would provide "a significant enabler" for its delivery of clinical trial analytics solutions, at scale, to the pharmaceutical industry.

Ixico stated the two companies would work together to deliver its AI solutions into global clinical trials for neurological diseases such as Alzheimer's disease and Huntington's disease by enhancing its large-scale data processing capabilities and setting the foundation for an expanded range of differentiated and proprietary AI-driven services.

Chief executive Giulio Cerroni said: "The partnership with Microsoft ensures we remain at the forefront of data analytics required by our global pharmaceutical clients, to provide new and valuable insights to reduce both the high cost of drug development and the time to market for urgently needed drugs across a wide range of neurological diseases.

"We are excited to work with Microsoft on our clinical trial data platform, as well as AI analytics framework, as we look to scale our business and increase our value to both current and prospective clients."

As of 1010 GMT, Ixico shares were up 12.71% at 102.0p.