IXICO PLC (AIM:IXI, OTC:PHYOF) has been chosen by its largest pharma client to provide neuroimaging services for a new phase III clinical trial into demyelinating disorder.
The artificial intelligence (AI) data analytics company said in a statement that the trial will be conducted across 100 sites in 10 countries and is worth more than £1.0mln over seven years.
Demyelinating diseases result in damage to the protective covering surrounding nerve fibres in the brain, optic nerves and spinal cord such as multiple sclerosis (MS).
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This is the second phase III trial in this disease area that IXICO has secured in the last 12 months.
“Our success in being awarded two such studies during 2021 supports our decision to invest in developing new analytics solutions to a broad range of neurological disorders, including demyelinating diseases which represent an important area of research within CNS [central nervous system],” said Giulio Cerroni, CEO of IXICO.
Although the contract was already included in the AIM-listed group’s expectations for financial performance, it adds to the order book and increases visibility of future revenues, IXICO said.
Shares were 2.82% higher at 73.00p in early trade.