UK-based machine learning and medical specialist Ixico is progressing plans to expand its technology across the brain imaging sector, with aggressive plans to extend studies.
The firm is one of the leading developers of imaging technology, powered by AI, capable of recognising medical issues. Last year , the firm agreed around a £1.8 million extension to a Phase III study in Huntington’s Disease and was awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy.
The data analytics company has been a sought after stock, posting strong growth as investors flock to get ahead of the next phase of neuroscience growth, anticipating furrher major pharma client contracts.
In a brief statement, the AIM-listed firm said it has agreed around a £1.8mln extension to a Phase III study in Huntington’s Disease (HD), previously announced in September 2018.
In addition, it continued, it has been awarded around a £0.6mln extension to a study programme in Progressive Supranuclear Palsy (PSP), previously announced in October 2019.
“HD and PSP are devastating neurological conditions, currently with no cure, and we are pleased to build momentum in our mission to support our clients in delivering data analytics in these challenging areas of rare, neurodegenerative disease. Our services will enable them to measure the impact of the trialled drugs with greater confidence and potentially unlock new insights into disease progression,” Giulio Cerroni, IXICO’s CEO, said.
He added: “Following the recent announcement of our strong trading results for FY19, the expansion of these work programmes for two large pharma clients is further evidence of the value that we deliver through our proprietary AI data analytics and our ability to scale our operations to meet increasing size and complexity of clinical trials as they progress through clinical development.”