IXICO executes £1.9m contract to support Huntington's disease study

Francesca Morgan
RNS Newswires
10:28, 27th November 2020

IXICO (AIM: IXI) FOLLOW announced that it has executed a £1.9 million contract to provide neuroimaging services that will support a phase Ib/II clinical trial for Huntington's disease.

The AI data analytics company which is focused on delivering insights in neuroscience told investors that this builds on its existing relationship with the sponsor, whose name remains undisclosed and with whom Ixico contracted a prior safety and efficacy trial back in 2019.

By deploying innovative imaging biomarker solutions through early phase studies, the company enables biopharmaceutical sponsors to accelerate research and development (R&D) decision making as well as maximise the value of their drug development pipelines.

Ixico said today’s new award ‘reflects and reinforces the confidence customers place in IXICO as the trusted and leading neuroimaging partner for Huntington's disease clinical trials.’

The company added that this contract was included in management's expectations of performance for the current financial year ‘but adds to the Company's strong order book.’

Shares in IXICO have more than doubled in the past three months to open 0.41% lower this morning at 122.5p following the announcement.

IXI price chart“Huntington's disease is a devastating rare neurological condition with unmet medical needs. IXICO has worked on numerous HD clinical studies since 2007 and is pleased to build further momentum in our mission to support our clients in delivering data analytics in these challenging areas of rare, neurodegenerative disease,” said CCO, Lammert Albers.

He added, “Our services will enable clients to measure the impact of the trialled drugs with greater confidence and potentially unlock new insights into disease progression and drug development."

Last month, the group posted ”excellent” FY20 results which it said demonstrated “the underlying resilience” of its technology despite the COVID-19 pandemic, which continues to disrupt clinical trials and reduce the number of new clinical trials being initiated.

Despite this uncertainty in the clinical trials market, IXICO confirmed its outlook for the 2021 financial year, reflecting its strong order book of future revenues and robust balance sheet.

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