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(Sharecast News) - Artificial intelligence (AI) data analytics company Ixico has been selected by its largest pharmaceutical client to provide neuroimaging services for a new phase 3 clinical trial focussed on a demyelinating disorder, it announced on Monday.
The AIM-traded firm said the study would be conducted across 100 sites in 10 countries, and was worth more than £1m over seven years.
It said it was the second phase 3 trial in the disease area that had been awarded to the company in the last 12 months, which the board said reflected its strategy to diversify into a broader range of neurological disorders identified as having a high unmet clinical need.
While the contract was already included within management expectations for financial performance across the year, it would add to the company's order book, and further increase its visibility of future revenues.
"We are delighted to be awarded the contract for this demyelinating study," said chief executive officer Giulio Cerroni.
"Our success in being awarded two such studies during 2021 supports our decision to invest in developing new analytics solutions to a broad range of neurological disorders, including demyelinating diseases which represent an important area of research within CNS.
"Our mission is to support our clients in their tireless efforts to bring potential treatments to patients suffering from neurological disorders, and this new contract reflects the confidence that clients place in Ixico as their trusted neuroimaging partner for their pivotal CNS studies."
At 1452 GMT, shares in Ixico were up 3.32% at 73.36p.
23 May 2024 18:37
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