IXICO Announces New Blood Based Biomarker Contract Win and Contract Extension

I powered neuro degenerative imaging firm IXICO  is on a roll.

Indeed so far this year, its best-in-class technology has not only helped discover the world's first FDA approved treatment for Huntington’s disease (re uniQure), but also provided the gold standard comparator imaging data to develop the 1st clinically validated blood based test to diagnose Alzheimer’s (Fujirebio).

In addition today, the company announced that it had secured 2 more agreements worth £1.2m in aggregate. A new contract to assist in the validation of another diagnostic for neurological disorders. Alongside securing a contract extension and scope expansion on an existing Alzheimer's disease clinical trial.

Here it is important to understand that blood based tests are perfect for diagnosing patients, but not yet considered sensitive enough for formal FDA clinical trial work. The good news for IXICO is that it is a leader in both of these rapidly expanding categories. Where multimodal approaches – combining both blood based and imaging biomarkers - are crucial for improving patient outcomes and cracking debilitating conditions like Parkinson’s, Alzheimer's and Huntington’s

CEO Bram Goorden commenting: "The new contract win marks our continued expansion and expertise in the blood-based biomarker field. The sustained period of contract extensions culminating in this important AD clinical trial, demonstrates the demand for IXICO's services and expertise, the consistent quality of our work, and the value we provide to major biopharma clients."

In terms of the numbers, house broker Cavendish are forecasting Sept FY25 revenues of £6.3m (or +9% YoY) climbing to £6.9m for FY26. Plus they have a 24p/share price target compared to today’s 12p, equivalent to 1.3x EV/revs, which appears attractive for such an IPR/tech rich and expanding healthcare business.