Ixico wins £1m research contract

(Sharecast News) - Precision analytics company Ixico announced a new contract valued at over £1m on Wednesday. The AIM-traded firm said the contract, awarded by a top-five contract research organisation (CRO) on behalf of a new pharmaceutical client, would involve providing imaging biomarker services for a phase three clinical trial targeting a type of Parkinsonian disorder.

It said the trial was set to run for just under five years, further establishing Ixico's expertise and expanding its footprint in the neuroimaging and biomarker space.

"Following the new contract win announced on 23 May in Alzheimer's disease, we are delighted to be announcing the award of a contract from a new client to support the development of a promising treatment targeting a Parkinsonian disorder," said chief executive officer Giulio Cerroni.

"We are pleased that our expertise in providing imaging analysis and radiological reads across clinical trials for a broadening range of neurodegenerative disorders, is increasingly recognised across the drug development industry and continues to attract new sponsors seeking these expert services."

At 0925 BST, shares in Ixico were up 16.28% at 7.5p.

Reporting by Josh White for Sharecast.com.