IXICO PLC (LSE:IXI, OTC:PHYOF), the neuroscience imaging specialist, has won a new contract and extended an existing one worth a combined £1.2 million, strengthening its position in biomarker analytics for neurological disorders.
The AIM-listed company said the new agreement, signed with a major global biopharma client, would support the validation of a diagnostic blood test designed to help detect an undisclosed neurodegenerative disease.
The three-year deal will use IXICO’s artificial intelligence-based platform to analyse data from a prospective blood-based biomarker test, a growing area of interest in drug development because it can help diagnose brain conditions earlier and less invasively than imaging.
Alongside this, IXICO has expanded its work on an Alzheimer’s disease clinical trial, adding a range of new activities over the coming years.
The extension builds on a series of smaller contract increases secured in recent months, which the company said had bolstered its long-term order book.
Bram Goorden, chief executive, said: “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 Alzheimer’s disease 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.”
The company said the deals reflect continued progress under its “Innovate, Lead, Scale” strategy, aimed at broadening its global reach and deepening relationships with pharmaceutical partners developing treatments for neurological disorders.