IXICO's Half Yearly Report to 31 March 2016

June 7, 2016
News

07 June 2016, IXICO plc (AIM: IXI), the brain health company, announces its unaudited interim results for the six months ended 31 March 2016.

Download Interim Report Here


Continued expansion of digital technologies and therapeutic areas focused on brain health 

Delivering on new contracts including Parkinson’s disease and multiple sclerosis  

Period Highlights

 Assessa® partnership deal with a leading pharmaceutical company to improve the risk profile of a globally marketed multiple sclerosis drug

 Four new contracts in Alzheimer’s disease clinical trials with a combined value of over £3.0m 

• Acquisition of Optimal Medicine Limited and associated equity fundraising  of £2.7m (gross)

  • mehealth® technology deployed in the American Academy of Pediatrics 2016 Quality Improvement Program 
  • Integration of the Optimal Medicine business and products progressing well

 

• Financial performance reflects start-up of a major new clinical trial and digital healthcare contracts 

  • Total income (revenue plus other income) of £2.0m  (2015: £2.0m)
  • Operating loss of £1.1m (2015: £0.8m) including investment in digital technology platform and pharma digital health relationships
  • Loss per share 4.6p (2015: 4.1p) 
  • Strengthened balance sheet with cash of £3.2m (2015: £1.9m) 

 

Post-Period Highlights

  • First contract in Parkinson’s disease with Oxford Biomedica
  • Joined seven global pharmaceutical companies in the Critical Path for Parkinson’s consortium 
  • Deployment of mehealth® technology in Cygnus project, part of the Dementia Platform UK consortium 

 

Derek Hill, Chief Executive Officer of IXICO, said:

“We continue to demonstrate our deep expertise in brain health and the value of IXICO’s technology platform through winning four new contracts in Alzheimer’s disease while further expanding our brain health focus into new therapeutic areas with contract wins for multiple sclerosis and Parkinson’s disease.  Through investment in our digital platforms including the recently acquired Optimal Medicine products, we are able to maximise synergies between our clinical trials and digital companion contracts.  We look forward to building on this to take IXICO into the next phase of its corporate development and continue to explore opportunities to build critical mass.”


Enquiries

IXICO plc    
Derek Hill, Chief Executive Officer    
Susan Lowther, Chief Financial Officer

+44 20 3763 7499    
    
Peel Hunt LLP (Nominated Adviser and Broker)    
James Steel/Oliver Jackson    

+44 20 7418 8900

Daniel Stewart & Company (Joint Broker)    
Martin Lampshire/David Coffman    

+44 207 776 6550
    
FTI Consulting Limited (Investor Relations)    
Simon Conway/Mo Noonan/Matthew Moss    

+44 20 3727 1000


Notes to Editors

About IXICO
IXICO’s innovative and proprietary digital healthcare technologies help those involved in researching and treating serious diseases to capture and analyse clinical data to make rapid, informed decisions.  In clinical research this includes the phenotyping of patients, quantification of disease pathology and measurement of patient outcomes.  In clinical practice the mobile health and digital decision support technologies aid diagnosis, patient engagement and monitoring. IXICO is also collaborating with partners to develop companion digital health products targeted at improving patient outcomes.

The Company’s brain health focus includes Alzheimer’s disease, Huntington’s disease, multiple sclerosis, Parkinson’s disease, behavioural health, child and adolescent mental health.

More information is available on www.ixico.com