Giulio Cerroni, chief executive officer of IXICO Plc (LON:IXI) since February, has outlined his vision of the future growth strategy of the company.
Cerroni’s review confirmed that the digital technologies company’s focus on neurological disorders would support its ambitious growth objectives.
READ: IXICO wins £750,000 wrist monitor deal
Cerroni identified three “key value segments” where IXICO’s technology platform and capabilities could perform mission-critical functions, and where the company’s technology could provide considerable efficiencies and value.
Those segments are: selecting patients for clinical trials; assessing safety and efficacy in every phase of drug development; and post-marketing surveillance.
There is an urgent need to develop new and safe medicines to meet the significant unmet medical need in brain-centred neurological conditions such as Alzheimer's disease and multiple sclerosis, the company said.
“An ageing population, increasing outsourcing, increasing regulatory focus on patient safety for marketed drugs and a trend towards patient outcome-based reimbursement are all additional drivers that underpin our growth strategy.
“We anticipate continued market penetration by intensifying our commercial activities beyond Alzheimer's drug trials into adjacent neurological diseases such as Multiple Sclerosis, Huntington's disease, Parkinson's disease and rare diseases such as Progressive Supranuclear Palsy (PSP),” it added.
New digital technologies
Cerroni believes that with its track record of innovative data solutions, IXICO is in a strong position to commercialise its new digital technologies by improving the efficiency of clinical trials and supporting post-market surveillance.
The company has built up a head of steam in 2017, with contracts from existing customers and new ones, while it has a growing pipeline of new contract opportunities.
READ: Order boost means IXICO ends year strongly
Cerroni said the company is well positioned to make good progress on its path to profitability, while effective commercialisation of its new, differentiated digital technology products and services are capable of further accelerating growth.
“With the opportunity to considerably scale our proven model, IXICO has the potential to become a leader and partner of choice to the global biopharmaceutical industry.
“As outlined, we will do this by seeking to increase the rate of adoption of our digital technology platform in the three key value segments identified. We will achieve this through a commercially-led growth plan that is already demonstrating considerable momentum with both current and new biopharma customers,” the company said.
“We expect this momentum to accelerate with both large pharma and an increasing number of biotech companies and through new business partnerships with contract research organisations,” it added.
Shares in IXICO were up 1.5% at 33p in early deals.