Ixico scores two new biopharmaceutical client contracts

By Iain Gilbert

Date: Friday 09 Aug 2019

Ixico scores two new biopharmaceutical client contracts

(Sharecast News) - Analytics company Ixico has secured two new biopharmaceutical client contracts with a combined value of more than £1m.
Ixico will provide its new clients with data analytics services to support clinical trials taking place in North America and Europe. These studies will run for approximately two years.

The AIM-listed group also revealed that its largest ongoing Phase III study with "a top-five pharmaceutical client" would be expanded.

The expansion will see Ixico deploy its AI-enabled algorithms to analyse additional data from the study. The change order will gross Ixico another £900,000 over the next three years.

Elsewhere, following an interim data review, an existing client notified the group of its intentions to discontinue a study, leading to a £3.5m reduction in contract value over the full term of the agreement to 2025.

Chief executive Giulio Cerroni said: "The board is confident of meeting market expectations in 2019 and, underpinned by the company's strong order book, is optimistic about the prospects of the company.

"However, we recognise that clinical research programmes at the forefront of neuroscience are not without risk."

As of 0830 BST, Ixico shares had slipped 1.30% to 38p.


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