IXICO links up with Microsoft to enhance AI platform

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What IXICO does

IXICO PLC’s (LON:IXI) data analytics services are used by the global biopharmaceutical industry to interpret data from brain scans and digital biosensors to enable better trial design, site qualification, patient selection and clinical outcomes.

The company’s digital platform and Artificial Intelligence (AI) software manages and helps interpret images from MRI (magnetic resonance imaging) and PET (positron emission tomography) scanners as well as collating and making sense of real-world data from wearable biosensors.

How it is doing

In March, IXICO PLC (LON:IXI) said it is to work with Microsoft to develop IXICO’s artificial intelligence (AI) data analytics platform.

Combining IXICO’s portfolio of AI data analytics and scientific expertise in neurological diseases with Microsoft’s cloud-based AI infrastructure will provide a significant enabler for IXICO’s delivery of clinical trial analytics solutions, at scale, to the pharmaceutical industry, it said.

Later that month,  Ixico’s largest customer halted all its work on a phase III trial into a treatment for Huntington’s Disease.

The decision followed an independent committee review of the potential benefit/risk profile for study participants, IXICO said.

Revenues from these trials are a material component of data specialist IXICO’s contracted revenues across the current financial year, it said, and also future financial years to 2024.

If there is no further work this would hit revenues by £2.7mln for the remaining period of the current year to September 2021 and by around £5mln in 2021/2022.

Excluding this trial, Ixico said it still maintains a strong contracted order book totalling over £12mln plus other opportunities.

What the boss says: Giulio Cerroni, chief executive

“The partnership with Microsoft ensures we remain at the forefront of data analytics required by our global pharmaceutical clients, to provide new and valuable insights to reduce both the high cost of drug development and the time to market for urgently needed drugs across a wide range of neurological diseases.”

 

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