IXICO plc (AIM: IXI), the digital technologies company serving neuroscience, today announces that it has signed an extension to an existing contract with a top 15 global pharmaceutical company for advanced imaging clinical trial services in a rare neurodegenerative disease, progressive supranuclear palsy (“PSP”).
The total contract value has increased from $1.2m to $1.95m and the project duration has been extended from 2019 into early 2020.
IXICO announced this contract in October 2016 and to date has recognised revenue of $0.3m. This extension reflects an expansion of the work to be performed due an increase in the number of trial participants, sites and countries that were not included in the original scope of work.
The project is for a Phase IIa clinical study of patients in the early stages of PSP to develop a first-in-class therapy that could prevent further degeneration. IXICO is utilising its proprietary TrialTracker™ platform to collect and analyse MRI data from specialist imaging centres across Europe, North America and Asia.
Giulio Cerroni, Chief Executive Officer of IXICO, said: “We have been working with this client since 2016 and are pleased to announce this project extension. This reflects our strategy to grow and expand our existing relationships with pharmaceutical clients industry and also demonstrates our capabilities in multi-centre clinical trials in rare neurodegenerative diseases.”