Data is the lifeblood of medical research, particularly in the fight against neurodegenerative diseases like Alzheimer's (AD), which affect hundreds of millions of people worldwide.
Today, AI-powered medical imaging analytics expert IXICO (IXI) announced that it had expanded its partnership with the Global Alzheimer's Platform Foundation (GAP), a world renowned nonprofit organisation.
Under the agreement, IXICO will pay GAP a combination of cash and analytical services to secure full rights to access the proprietary data from its upcoming Bio-Hermes-002 study. This will be one of the most prominent global studies in AD research, aiming to enhance the understanding of newly identified biomarkers and advance the regulatory acceptance of those biomarkers for use in clinical trials.
To me, this is an extremely smart strategic move, in effect showcasing IXICO's unique capabilities in a landmark industry setting - that hopefully will also help 'design-in' its imaging expertise, as the de facto standard across the AD clinical trial ecosystem.
But that's not all.
The deal will enable IXI to further enhance its own R&D roadmap, particularly in terms of offering vascular biomarker analysis and blood-based biomarker support, whilst equally strengthening its relationships with key GAP consortium partners such as Biogen, Eli Lilly, Roche, Eisai and J&J. The agreement represents another major endorsement of IXI's world-leading technology, industry reputation, and best-in-class solutions.
CEO Bram Goorden commenting: "This official partnership strengthens the deep collaboration between IXICO and GAP. Working with GAP and the consortia partners is very rewarding clinically, and it is also particularly important for two strategic reasons. Firstly, it confirms IXICO's leading role in the AD research ecosystem, a key element in driving continued commercial opportunities. Secondly, the unique study data enables us to further develop highly differentiated neuroimaging biomarker technologies that advance the understanding, diagnosis and treatment for patients suffering from AD."
House broker Cavendish has a 24p/share price target compared to today's 11p, equivalent to 1.1x EV/revs - and is forecasting Sept FY25 LBITDA of -£1.7m on sales of £6.3m, closing the period with net cash of £3m.
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