Ixico wins £700,000 contract with biotech company

Clinical research firm Ixico has won a contract to provide MRI imaging services for patient selection and efficacy analysis in patients with a rare form of dementia.

Ixico said on Friday that the trial will see it work with an unnamed biotech company and new client on a trial for an "innovative gene therapy approach" and was expected to last for just over four years.

The AIM-listed firm stated the contract was valued at roughly £700,000.

Chief executive Giulio Cerroni said: "We are delighted to be awarded this contract to support the development of this promising treatment in a rare neurodegenerative disease.

"It is great to see our IXIQ.Ai advanced analytics technology being chosen by new clients to support patient eligibility assessment in innovative trial designs."

As of 0840 GMT, Ixico shares were up 4.35% at 24.0p.

Reporting by Iain Gilbert at Sharecast.com