IXICO Plc (LON:IXI) announced today that it has signed an extension and expansion to its largest existing contract for a Phase II/III clinical trial contract in Alzheimer's disease.
In a statement, the AIM-listed neuroscience digital technology firm said that consequently the total value of the contract - which was awarded in August 2015 - has increased from US$6.8mln to US$7.7mln, of which US$1.0mln has been recognised to date.
It added that the contract term has been extended by eight months to May 2024.
READ: IXICO PLC technology to be used in Alzheimer's clinical trial
Giulio Cerroni, IXICO’s CEO, said: "We are delighted to announce an extension to this significant existing agreement which reflects the opportunities we continue to develop to enhance our privileged position as trusted partners, to provide additional technology enabled services to our pharmaceutical customers".
The study utilises IXICO’s expertise and proprietary technology platform to collect, measure and monitor changes in disease pathology of participants in the trial.
The expansion reflects the addition of additional image data standardisation and collection services, which will be provided over the duration of the study.