IXICO wins new contract worth $2.7m with global pharma customer

AIM-listed IXICO, a digital technologies company serving neuroscience, has signed an additional new contract with an existing global pharmaceutical customer worth $2.7m over a seven-year term.

As part of the contract, which begins immediately, IXICO will provide its technology enabled imaging services in a clinical trial of a novel therapeutic to treat people with progressive supranuclear palsy (PSP), a rare neurodegenerative disease which leads to difficulties with balance, movement, vision, speech and swallowing.

This new contract is IXICO's third clinical trial project in PSP and follows contracts announced in October 2016 and March 2017 with values of $1.2m and $1.5m, respectively.

As part of the study, IXICO will use its TrialTracker digital platform and image analysis algorithms to collect and analyse MRI data from specialist imaging centres across Europe, North America and Australasia. The data will then be used to evaluate the safety and efficacy of the treatment.

Chief executive officer Giulio Cerroni said: "This additional, new contract in PSP from an existing customer indicates the value our customers see in IXICO's extensive neurological disease expertise combined with our proprietary digital technologies. Through our proven ability to collect and analyse clinical data in a standardized and regulatory-complaint format, we continue to build on our successful track record as a partner of choice to the biopharmaceutical industry.”

At 1010 GMT, the shares were up 8.4% to 36.85p.