IXICO plc Pre-Close Trading Update (6061C)

TIDMIXI

RNS Number : 6061C

IXICO plc

19 October 2015

IXICO plc

Pre-Close Trading Update

19 October 2015, IXICO plc (Ticker: IXI) ('IXICO' or the 'Company'), the brain health company, today provides the following pre-close trading update ahead of its preliminary results for the year ended 30 September 2015.

The Company is pleased to report revenues for the year at GBP3.1 million and other income at GBP1.0 million, in line with market expectations, giving combined total income of GBP4.1 million for the year. This compares to GBP4.3 million of total income (GBP3.4 million of revenue and GBP0.9 million of other income) for the 16 month period to 30 September 2014. Revenues in the year were achieved in the clinical trials business, including new contracts in Huntington's Disease, together with initial revenues from the Company's proprietary digital healthcare platform.

Operating expenses have been tightly controlled which has contributed towards a net cash figure at 30 September 2015 of GBP1.92 million which is ahead of market expectations and reflects a modest reduction from the net cash figure of GBP1.95 million at 31 March 2015.

Post the year end, the Company was pleased to announce a strategic collaboration with a leading pharmaceutical company to develop and pilot an adapted version of Assessa(R) for the clinical management of multiple sclerosis. This collaboration is expected to make a material contribution to the Company's revenues in the next 12-18 months which, together with the Phase II global clinical study in neurodegenerative disease announced in August 2015, underpins the board's confidence in meeting current market expectations.

The Company anticipates that its preliminary results to 30 September 2015 will be announced in December 2015.

Enquiries:

 
 IXICO plc                                   +44 20 3763 7499 
 Derek Hill, CEO 
 Susan Lowther, CFO 
 Charles Spicer, VP Corporate Development 
 
 Peel Hunt LLP (Nominated Adviser 
  and Broker)                                +44 20 7418 8900 
 James Steel 
 Oliver Jackson 
 
 Daniel Stewart & Company (Joint 
  Broker)                                    +44 207 776 6550 
 Martin Lampshire 
 David Coffman 
 
 FTI Consulting Limited (Investor 
  Relations)                                 +44 20 3727 1000 
 Simon Conway 
 Mo Noonan 
 Matthew Moss

Notes to Editors

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, informed decisions targeted at improving patient outcomes. IXICO has significant experience working with global pharmaceutical and biotechnology companies supporting clinical studies in the field of neuro-degenerative disorders including dementia, Alzheimer's disease, Huntington's disease and Multiple Sclerosis.

More information is available on www.ixico.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 19, 2015 02:00 ET (06:00 GMT)

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