IXICO shares surged on Monday after it announced it had won a £2.7m contract to provide imaging analysis for a late-stage Huntington’s disease drug trial.
The neuroscience imaging company, which uses AI to analyse brain scans for clinical trials, said the global Phase 3 contract with an international biotech company would generate revenue over the next six years.
It is the company’s second such Huntington’s contract in the past year, as more potential treatments for the disease progress to late-stage testing.
The win follows two Alzheimer’s disease contract awards announced last month, which IXICO said reflected continued growth in its order book.
Bram Goorden, CEO of IXICO, commented: “We are proud to be working at the cutting edge of innovative therapies, helping biopharmaceutical companies advance potentially transformative treatments for patients and families affected by Huntington’s disease.
“This contract is another strong endorsement of IXICO’s leading position in the neurodegenerative disease field. It also demonstrates our continued progress in strengthening our order book through an increasing contribution from later-stage clinical trials, providing long-term revenue visibility and supporting our growth ambitions.”
IXICO shares were 17% higher at the time of writing.