IXICO Plc (LON:IXI) saw its shares jump on Tuesday with news it has landed a US$2.7mln contract to deploy its digital technologies in research being carried out by a global pharmaceutical company into progressive supranuclear palsy (PSP).
The seven-year deal, which starts immediately, builds on a relationship with an existing customer.
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IXICO’s imaging services will be used in a clinical trial of a potential new drug for PSP, a rare neurodegenerative disease.
In afternoon trading, IXICO shares were up 10.3% at 37.5p.
Third deal in this area of research
It is the company’s third clinical trial project in this arena of research. As part of the latest study, IXICO will use its TrialTracker digital platform and image analysis algorithms to collect and analyse MRI data from specialist imaging centres across Europe, North America and Australasia.
This information will be used to evaluate the safety and efficacy of the treatment.
"This additional, new contract in PSP from an existing customer indicates the value our customers see in IXICO's extensive neurological disease expertise combined with our proprietary digital technologies,” said chief executive Giulio Cerroni.
“Through our proven ability to collect and analyse clinical data in a standardised and regulatory-complaint format, we continue to build on our successful track record as a partner of choice to the biopharmaceutical industry.”
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