IXICO PLC (LSE:IXI, OTC:PHYOF) shares jumped 5% to 11.28p after the neuroscience analytics specialist landed a four-year contract worth more than £3.5 million to support a global phase III trial in Huntington’s Disease.
The London-based group will provide imaging services for the study under a deal with a major pharmaceutical company. Phase III trials are the final and most expensive stage before a drugmaker seeks regulatory approval, making this a commercially meaningful win for IXICO.
Huntington’s is a rare, inherited disorder that destroys nerve cells in the brain and has no cure. With research efforts accelerating, IXICO has carved out a strong position in the field through its artificial intelligence platform, which detects subtle changes in neurological scans and supports biomarker development.
Chief executive Bram Goorden called the award “an important contract in terms of value and trial stage”, saying it reinforces the company’s role in Huntington’s research. He added that rising investment in rare neurological diseases is encouraging and could pave the way for significant scientific advances.
The contract also extends momentum behind IXICO’s “Innovate, Lead, Scale” strategy, aimed at expanding its global footprint across late-stage neuroscience trials.
"Building on the company’s Innovate Lead Scale strategy, we believe this late-stage contract further demonstrates IXICO’s position as a leading imaging contract research organisation providing services on a global basis," said broker Cavendish in a note to clients, reiterating its 24p price target.