AI data analytics company IXICO announced that it has been selected by a current biopharmaceutical client to provide neuroimaging services for a Phase III clinical trial.
The Group, which uses AI data analytics to drive insights in neuroscience, said today’s contract forms part of a Neuroinflammatory disorder study, extending the firm’s central nervous system (CNS) clinical trials franchise to include a further new disease indication.
IXICO said the additional contract which follows on from a recent contract win announced last month not only deepens its commercial relationship with the unnamed client but highlights the company’s strategic momentum ‘in diversifying across new neurological therapeutic areas.’
Neuroinflammatory disorders such as multiple sclerosis (MS) represent ‘an important area of research within CNS, with an active and growing number of new clinical trials anticipated.’
The new Phase III trial, which will be conducted across 50 sites in North America and Europe, is worth in excess of £0.5m over 4 years, the company noted in this morning’s statement.
“By bringing together our Company's proven therapeutic expertise, advanced AI analytics and robust operational infrastructure, IXICO will enable this existing biopharmaceutical client to accelerate R&D decision making, de-risk clinical research and maximise the value of their CNS drug development pipelines,” said Lammert Albers, Chief Commercial Officer of IXICO.
Shares in IXICO have increased by nearly 12% in value in the past month. The stock was trading 2.82% lower this morning at 85.03p following the announcement.
Albers highlighted that the new award is a reflection of “the confidence customers place in IXICO as the trusted leading neuroimaging partner for their Phase III CNS studies."
Last month, the company announced that it had won a new contract to provide neuroimaging services for a new clinical trial for acute ischemic stroke with ‘its largest pharma client.’
At the time, IXICO said the win reflected a further broadening of its neurological footprint into a new therapeutic area with this specific client, demonstrating that the Company continues to build momentum in its growth strategy of further diversification into new therapeutic areas.
Ischemic stroke is caused by a blockage cutting off the blood supply to the brain. This type of stroke is the most common form of stroke and accounts for approximately 85% of cases.
The new Phase II acute ischemic stroke trial, which is to be conducted across 50 sites in North America and Europe, is worth in excess of US$0.5m over 35 months, IXICO said.
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