At the heart of all outstanding healthcare firms is the quality of their science. However technology alone doesn’t always guarantee success. Instead it needs to be combined with commercial acumen in order to convert the cutting edge IPR into paying clients and contract wins.
On this score, I believe IXICO – a £10m marketcap, AI powered medical imaging analytics business is punching way above its weight.
Indeed its winning 'Innovate, Lead, Scale' strategy continues to go from strength to strength. This morning signing a landmark >£3.5m 4 year neurological imaging deal with a large pharmaceutical company for a global Phase 3 clinical trial in Huntington’s Disease (HD). Not only boosting #IXI’s Sept’25 yearend orderbook of £13.8m and helping underpin expectations for the year ahead. But also providing another major endorsement of the excellence of its end-to-end AI powered services.
Here IXICO is already the industry’s #1 and ‘go to’ player for interpreting HD brain scans, and even assisted Uniqure in creating the world’s 1st break-through treatment that hopefully will be approved by the FDA sometime in 2026.
Additionally #IXI has expanded into Alzheimer’s, Parkinson’s & other CNS conditions, where advanced digital imaging remains the gold standard for understanding, monitoring & treating brain disorders. Alongside playing a crucial role too in obtaining FDA/regulatory approval, post marketing surveillance and developing novel neuro-degenerative blood based diagnostics.
CEO Bram Goorden commenting "This is an important contract in terms of value and trial stage that further cements IXICO’s position in the field. We are very proud to continue our support of the HD community, working with HD research consortia and pharmaceutical partners towards breakthrough treatments for patients in this devastating disease. As mentioned during the recent Capital Markets Day, I am greatly encouraged by biopharma’s increased commitment to invest in rare neurological diseases and optimistic this will lead to disease modifying solutions in the near future.”
Finally wrt the numbers, house broker Cavendish are forecasting FY26 EBITDA of -£1.6m on turnover of £6.9m (+9.5% vs £6.3m LY), augmented by a 24p/share price target. Net cash closed Sept’25 at £3.5m.