IXICO announces client contracts and appointed CBO
28 October 2019
("IXICO" or the "Company")
IXICO announces client contracts and appointment of Chief Business Officer
IXICO plc (AIM: IXI), the AI data analytics company delivering insights in neuroscience, today announces three new biopharma contracts and the appointment of Lammert Albers as Chief Business Officer effective immediately.
The new contracts are:
· A start up agreement with a new client for a new multi-study programme in Progressive Supranuclear Palsy (PSP), with an initial value of c£0.4 million, over 12 months
· A c£0.35 million, three-year, expansion of an existing study to add a significant patient cohort in China
· A c£0.45 million, two-year, new client contract to support a Phase IV study for a US biotech client, exploring a new application for a marketed drug for mental health
The Company has been contracted to initiate work on a new PSP programme for a client, ahead of patient enrolment later in 2019. The first study in the programme has a value of approximately £0.4 million and is expected to lead to a larger programme of work in early 2020.
An existing client has also initiated a new requirement to enrol patients in China, enabling IXICO technology to be extended and deployed to qualify several sites in mainland China.
A new US-based biotechnology client has contracted IXICO to provide imaging analytics services to support a Phase IV programme in mental health. The study will validate an additional indication for an established therapy, enabling more patients to benefit.
The Company has also appointed Lammert Albers as Chief Business Officer. With twenty years of commercial experience in Clinical Research Organisations which includes MDS Pharma Services Inc, PRA Health Sciences Inc and most recently, Cogstate Inc, Lammert has a proven track record in a broad range of therapeutic areas, across specialist technology services. With a deep expertise of the Alzheimer's disease (AD) trials market, he will be responsible for executing the company's global business development strategy in both existing and new markets. Based in the US, Lammert will have responsibility for global business development, with a particular focus in driving international growth in North America & Asia.
Giulio Cerroni, Chief Executive Officer of IXICO, commented:
"Following an exceptionally strong close in FY19, we are pleased to keep up this momentum with new contracts and new commercial leadership talent coming on board. This demonstrates the adaptability of IXICO's core technology and ability to unlock insights on a broad range of neurological disorders and across the full spectrum of clinical development. We are also delighted to announce Lammert's appointment as Chief Business Officer. He brings deep knowledge of the global CNS clinical trials market and a strong track record of delivering revenue growth. His experience will further support our strategy of growth through international expansion."
For further information please contact:
+44 (0) 20 3763 7498
Giulio Cerroni, Chief Executive Officer
Grant Nash, Chief Financial Officer
Cenkos Securities PLC (Nominated adviser and sole broker)
+44 (0) 20 7397 8900
Giles Balleny / Max Gould (Corporate Finance)
Michael F Johnson / Russell Kerr (Sales)
Optimum Strategic Communications
+44 (0) 203 950 9144
Mary Clark / Supriya Mathur / Manel Mateus
IXICO's purpose is to advance medicine and human health by turning data into clinically meaningful information, providing valuable new insights in neuroscience and rare disease.
Our goal is to be a leading proponent in the use of AI in clinical development, to improve biopharma R&D productivity through the adoption of breakthrough data analytics in precision healthcare. Through the deployment of novel AI algorithms, we analyse and interpret brain scans and digital biosensor data to enable better trial design, patient selection and ultimately clinical outcomes across all phases of clinical evaluation. Our data analytics services are deployed on some of the most important clinical trials in neuroscience and rare disease, providing valuable insights to disease progression and patient safety, enabling our clients to make better informed decisions earlier in the clinical development pathway.
More information is available on www.IXICO.com
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