IXICO PLC (LSE:IXI, OTC:PHYOF, FRA:PYPB) CEO Bram Goorden joined Proactive to discuss the company’s new strategic collaboration with Medidata and its implications for growth.
The partnership brings together IXICO’s neuroimaging analytics with Medidata’s global clinical trial platform. Goorden explains how the deal could expand access to larger trials and support a shift toward recurring revenues.
Proactive: I'm joined by Bram Goorden, the CEO of IXICO. Bram, very good to speak with you and congratulations on that Medidata collaboration. Can you explain the context and likely positive impacts of this deal?
Bram Goorden: Of course. And thanks for having me, Stephen. Great to be here again. This is a big one for us. This is an important one. Medidata is a multibillion dollar player in the clinical trial space. We've been having very constructive discussions with them leading up to this collaborative agreement.
Basically, what we're doing is combining their electronic data capturing technology and their broad clinical trial support technology with our proprietary analytics in neuroimaging. Together we're creating a seamless solution for biopharma clinical trials.
Medidata serves 18 of the top 25 pharma companies and 90% of global clinical research organisations, with around 38,000 trials across 140 geographies. This creates a one-stop shop and gives IXICO access to more trials, including larger and more complex ones. There’s a clear synergy between technologies.
Proactive: The commercial momentum that Medidata creates follows recent contracts and leadership updates. How does this fit with today’s news?
Bram Goorden: We've been very busy. A few weeks ago, we announced the extension of a large global Phase 2 trial worth £1.5 million, alongside smaller deals.
We also welcomed a new Chief Commercial Officer, Tanya Voloshen, who brings deep industry experience. This is the first time we have a commercial executive reporting directly to the CEO. It’s been a very busy quarter, and the Medidata deal takes us into the next chapter.
Proactive: Where might IXICO’s growth strategy go next?
Bram Goorden: We will stay true to our imaging CRO business, but this deal takes us into the “tech bio” space. We’ll bring our proprietary IXI platform to the forefront and partner with companies like Medidata to scale and handle more complex trials.
We also expect to build recurring revenue streams through longer-term collaborations, rather than one-off projects. This deal should accelerate growth and create a new revenue stream.
Proactive: Thank you.