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IXICO reveals £2.4mln expansion of study programmes with two large pharma client contracts

The firm said it has agreed around a £1.8mln extension to a Phase III study in Huntington's Disease, previously announced in September 2018

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In addition, IXICO has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy

IXICO PLC (LON:IXI), the data analytics company delivering insights in neuroscience, got a pre-Christmas boost on Monday, revealing a £2.4mln expansion of study programmes with two large pharma client contracts.

In a brief statement, the AIM-listed firm said it has agreed around a £1.8mln extension to a Phase III study in Huntington's Disease (HD), previously announced in September 2018.

In addition, it continued, it has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy (PSP), previously announced in October 2019.

READ: IXICO gains as it achieves first year of profitability since AIM listing

Giulio Cerroni, IXICO’s chief executive officer commented: "HD and PSP are devastating neurological conditions, currently with no cure, and we are pleased to build momentum in our mission to support our clients in delivering data analytics in these challenging areas of rare, neurodegenerative disease. Our services will enable them to measure the impact of the trialled drugs with greater confidence and potentially unlock new insights into disease progression.”

He added: "Following the recent announcement of our strong trading results for FY19, the expansion of these work programmes for two large pharma clients is further evidence of the value that we deliver through our proprietary AI data analytics and our ability to scale our operations to meet increasing size and complexity of clinical trials as they progress through clinical development."

In morning trade, IXICO shares were 10.6% higher at 78p.

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Quick facts: IXICO PLC

Price: 72 GBX

AIM:IXI
Market: AIM
Market Cap: £33.91 m
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