Last checked at 26 Nov 2014 07:00
IXICO announces enhanced contracts with two pharmaceutical company customers in Huntington's disease
26 November 2014, IXICO plc (Ticker: IXI) ('IXICO' or the 'Company'), the brain health company, today announces that the contracts for two separate clinical trials in Huntington's disease ('HD') with two top 15 pharmaceutical companies (previously announced in May 2014) have been extended. As a consequence, IXICO anticipates the revenue from these two contracts to be significantly enhanced to a potential £2.5 million over approximately three years. Building on the continued contract wins and a healthy pipeline referenced in the trading update released in July 2014, the significant value of these contracts gives the board increasing confidence in the prospects for IXICO's clinical trials business.
Professor Derek Hill, Chief Executive of IXICO commented:
'We are pleased that our increasing specialisation in Huntington's disease is gaining significant momentum, complementing our more established position in providing similar support for clinical trials in Alzheimer's disease. We are at the forefront of improving the diagnosis and management of diseases causing dementia with digital health technologies. We are increasingly collaborating with our pharmaceutical customers looking to develop better solutions for patients suffering from this currently untreated and debilitating disease.'
About IXICO
IXICO, the brain health company, uses its innovative and proprietary digital health technologies to help those involved in researching and treating serious diseases to make rapid, informed decisions targeted at improving patient outcomes. IXICO has significant experience working with global pharmaceutical and biotechnology companies supporting clinical studies in the field of neuro-degenerative disorders including Alzheimer's disease, Huntington's disease, other causes of dementia and Multiple Sclerosis.
More information is available on www.ixico.com
About HD
HD is a rare genetic neurodegenerative disorder that affects the patient's normal movement, cognition and behaviour. HD is more common in people of Western European descent than in those of Asian or African ancestry, affecting approximately 5-7 people per 100,000 in Western countries. There are currently no effective marketed treatments for HD. Despite its low incidence, interest in developing therapeutics to treat the disease within the pharmaceutical industry is significant with a large number of pharmaceutical and biotechnology companies globally interested in the indication. IXICO has supported important research in the HD indication area since 2007. The Company has worked with key opinion leaders around the world and charitable organisations to characterise biomarkers that could be used in clinical trials to evaluate the effectiveness of novel treatments in development. A battery of outcome measures is emerging from these published studies and other academic work.
Enquiries:
IXICO plc
Derek Hill, CEO
Susan Lowther, CFO
Charles Spicer, VP Corporate Development
+44 20 7691 2064
Peel Hunt LLP (Nominated Adviser and Broker)
James Steel
Clare Terlouw
+44 20 7418 8900
Daniel Stewart & Company (Joint Broker)
Mark Treharne
+44 207 776 6550
FTI Consulting Limited (Investor Relations)
Simon Conway
Ben Atwell
+44 20 3727 1000