LONDON (Alliance News) - IXICO PLC said Tuesday it inked a new contract worth GBP9.1 million with an unnamed "top-10 global pharmaceutical company".
Shares in the data analysis firm serving neuroscience were trading up 31% at 36.01 pence each on the back of the news.
The contract which lasts over a four-year term is for the provision of IXICO's technology-enabled imaging services in support of a study of Huntington's disease, a genetic neurodegenerative disorder affecting movement, cognition and behaviour.
As part of the study, IXICO will optimise, standardise and collect magnetic resonance imaging data from specialist imaging centres. Afterwards, the company's "data science expertise and artificial intelligence software algorithms will be applied to provide insights into brain cellular microstructure and neuronal connectivity to support the evaluation of drug safety and efficacy", IXICO explained.
This contract is the fourth for Huntington's disease announced by the company this year and expands its relationship with the existing client.
Ixico (IXI)