IXICO PLC — M&A Activity 2014

Mar 7, 2014

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RNS Number : 8153B

IXICO plc

07 March 2014

07 March 2014

IXICO plc and VirtualScopics, Inc. announce international commercial

and operational alliance

IXICO plc (Ticker: IXI) ("IXICO" or the "Company"), the brain health company, and VirtualScopics, Inc. (NASDAQ: VSCP) ("VirtualScopics"), a leading provider of quantitative medical imaging based in Rochester, New York, today announce that they have reached an agreement in principle to enter into an international commercial and operational alliance.  The proposed alliance will provide the clinical trials industry with global operational capabilities and a full range of therapeutic area and modality expertise.  This is expected to enhance the ability of both companies to deliver world-class services to pharmaceutical, biotech and academic customers and collaborators around the globe. 

Commenting on the alliance, Derek Hill, CEO of IXICO said:

"This alliance brings together two highly complementary organisations, each with a strong track record of supplying imaging services and technologies to pharmaceutical companies globally. By combining our resources with those of VirtualScopics, we can enhance our ability to deliver on the largest trials world-wide, across a more diverse range of therapeutic areas."

Eric Converse, CEO of VirtualScopics added:

"The proposed alliance would enable us to access IXICO's focus on neurology, European location, and complementary technologies, and we believe, allow us to provide more comprehensive and scalable capabilities to our customers."

Enquiries

IXICO plc

+44 207 691 2064

Derek Hill, CEO

Charles Spicer, Director

John Hall, Vice President, Business Development

VirtualScopics, Inc.

+1 585 249 6231

Eric Converse, CEO

Erik Jensen, Vice President, Global Business Development and Marketing

Peel Hunt LLP (Nominated Adviser and Broker to IXICO)

+44 207 418 8900

James Steel

Clare Terlouw

Daniel Stewart & Company (Joint Broker to IXICO)

+44 207 776 6550

Mark Treharne

David Hart

FTI Consulting Limited (IXICO U.K. Investor and Media Relations)

+44 207 831 3113

John Dineen

Simon Conway

FleishmanHillard (VirtualScopics Investor Relations)                                                           

+1 212 453 2445

Nicole Schoenberg

About IXICO

IXICO, the brain health company, was founded in 2004 with a mission to translate image acquisition, management and analysis technology and know-how, which the founders had developed together, into commercial products targeting the expanding area of imaging to inform decision-making during drug development. This has resulted in commercially successful products being launched in the clinical trials (Phase 0-III) and experimental medicine markets and more recently launched into the wider clinical diagnostic market. Since incorporation, IXICO has been awarded contracts by nine of the top 15 global pharmaceutical companies as well as leading biotechnology companies. In October 2013, IXICO plc was admitted to trading on AIM. More information is available on www.ixico.com

About VirtualScopics, Inc.

VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development.  VirtualScopics has developed a robust software platform for analysis and modelling of both structural and functional medical images.  In combination with VirtualScopics' industry-leading experience and expertise in advanced imaging biomarker measurement, this platform provides a uniquely clear window into the biological activity of drugs and devices in clinical trial patients, allowing sponsors to make better decisions faster.  For more information about VirtualScopics, visit www.virtualscopics.com 

This information is provided by RNS

The company news service from the London Stock Exchange

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