License of TrialTracker to VirtualScopics

RNS Number : 8346Z

IXICO plc

16 December 2014

 



IXICO plc

IXICO licences its proprietary TrialTracker™ digital platform to VirtualScopics

16 December 2014, IXICO plc (Ticker: IXI) ("IXICO" or the "Company"), the brain health company, announces today that it has signed a multi-year software licence and support agreement for its proprietary imaging data and query management digital platform, TrialTracker™, with existing alliance partner VirtualScopics, Inc. (NASDAQ: VSCP). 

Under the terms of the agreement, VirtualScopics will pay IXICO to implement and support the use of TrialTracker™ in its clinical trial business both as part of and separate to the alliance. Financial terms were not disclosed. The parties have been working together over the last few months to deploy the TrialTracker™ digital platform which has now been validated by VirtualScopics.

IXICO is also pleased to report that, the alliance with VirtualScopics has been awarded its first joint project by a global top 15 pharmaceutical company which will involve the provision of image analysis services for a phase II oncology clinical trial using TrialTracker™ which is due to commence shortly. In this instance, VirtualScopics will be the primary service provider and IXICO will provide clinical site support services from its London headquarters.

In June 2014, IXICO and VirtualScopics announced the signing of an alliance framework agreement with a vision to provide the clinical trials industry with global operational capabilities and a full range of therapeutic areas and modality expertise. In the same month, the two companies jointly opened an operations and business development office in New Hope, PA, to allow optimal collaboration within the alliance.

Derek Hill, CEO of IXICO said:

'We are delighted that our alliance colleagues at VirtualScopics have implemented and validated our TrialTracker™ platform and that the alliance has been awarded its first joint contract from a leading global pharmaceutical company.  We are already seeing the benefits of working with VirtualScopics as our combined expertise means we can bid for a broad range of global clinical trials.'

Eric Converse, CEO of VirtualScopics said:

 "I am excited about the implementation of the TrialTracker system as it is expected to increase efficiencies in our organization and further strengthen our relationship with IXICO in the future.  We also plan to use the software for our first joint win for the Alliance, along with other projects previously won by VirtualScopics."

About IXICO

IXICO, the brain health company, uses its innovative and proprietary digital platform technologies to help those involved in researching and treating serious diseases to make rapid decisions and improve patient outcomes.  Established since 2004, IXICO has significant experience in working with global pharmaceutical and biotechnology companies in dementia clinical studies and other neuro-degenerative disorders including Huntington's disease and Multiple Sclerosis.

For more information about IXICO, please visit www.ixico.com

About VirtualScopics

VirtualScopics, Inc. (NASDAQ:VSCP) is a leading provider of clinical trial imaging solutions to accelerate drug and medical device development.  For risk-averse, time-constrained Clinical Trial Study Teams, Medical Directors and Imaging Scientists who require quality imaging data delivered on-time, within budget and on a consistent basis, VirtualScopics' clinical trial imaging solutions are an inspired true exception to commonly-accepted services provided by other clinical trial imaging providers.  Because of the scientific and operational flexibility and responsiveness they can offer, VirtualScopics' clinical trial imaging solutions deliver special performance advantages compared to other image service providers that offer common, everyday clinical trial imaging services. 

For more information on VirtualScopics, Inc. please visit www.virtualscopics.com.

Enquiries:                                    

IXICO plc                               

Derek Hill, CEO

Susan Lowther, Chief Financial Officer

Charles Spicer, VP Corporate Development                         

UK Headquarters:  Griffin Court, 15 Long Lane London EC1, United Kingdom

[phone]

US Office: Building D-1, 220 Union Square Drive, New Hope, Pennsylvania, US

Peel Hunt LLP (Nominated Adviser and Broker)

James Steel

Clare Terlouw

[phone]

Daniel Stewart & Company (Joint Broker)

Mark Treharne

[phone]

FTI Consulting Limited (Investor Relations)

Ben Atwell

Simon Conway

[phone]

Donna Stein & Partners (VirtualScopics enquiries)

Donna N. Stein [phone]

[e-mail]

 

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