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Imperial Innovations and The Capital Fund announce investment in IXICO Limited

Imperial Innovations Group plc, the technology commercialisation and investment company (AIM: IVO) and The Capital Fund, the £50 million Regional Venture Capital Fund for London, today announce that they have together invested £850,000 to co-lead an investment round of £2.44 million ($4.8 million) into IXICO Limited (‘IXICO’), a provider of image analysis solutions for the pharmaceutical industry. The fundraising will enable the company to sustain its growth, build value, and reinforce the company’s balance sheet.

Founded in 2004, using technology from Imperial College London and King’s College London, IXICO provides state of the art image analysis solutions for pre-clinical and clinical trials. The company’s products and services combine world-leading image acquisition expertise with sophisticated computer algorithms devised by its employees and four scientific founders.

Imaging has the potential to assess the effectiveness of new drugs, and can also detect possible side effects early in the development process. For imaging to fulfil this potential, it needs to be performed in a standardised and quantitative way. As IXICO’s service is scaleable, it can be used to analyse thousands of images in very early drug tests or in late phase trials. IXICO’s technology and expertise provide its customers with fast and accurate results about the impact of potential new drug molecules on disease symptoms including brain volume changes in dementia and bone degeneration in arthritis. The end result for patients is the faster development of new, more effective treatments for painful or life threatening conditions.

IXICO’s technology is proven and already used globally by some of the world’s largest pharmaceutical and biotechnology companies for imaging trials from Phase 0 to Phase III. The service has been shown to be effective in a wide variety of medical applications, though the company’s initial focus is on developing its services to assess the impact of new drugs for rheumatoid arthritis, dementia and oncology.

Professor Derek Hill, CEO, IXICO, said,
“IXICO’s vision is to transform the way that imaging is used in clinical trials, and to help our customers bring safe and effective treatments to patients more rapidly than was previously possible. This investment will enable us to expand our activity substantially, and give us the working capital to be able to bid for larger imaging analysis contracts with our customers. ”

Susan Searle, CEO, Imperial Innovations, said,
“IXICO’s medical imaging technology has the potential to play a very important role in accelerating developments in the pharmaceutical industry. We are delighted to support them as they embark on their next stage of growth.”

Helen Reynolds, Investment Manager at The Capital Fund, said,
“This is the second time that The Capital Fund has invested in IXICO and we are pleased to have provided a further round of crucial development capital to grow the business. The company has created a truly innovative technology with the potential for use across a wide range of medical applications. We remain impressed by the quality of the research behind the IXICO service and the calibre of the management team who combine substantial experience of the healthcare industry with significant image analysis acquisition know-how. We wish Derek Hill and his team every success with their future plans.”

For more information contact:

Imperial Innovations
Susan Searle, Chief Executive Officer +44 (0)20 7594 6591
Lucy Ahfong, Marketing Communications Executive +44 (0)20 7594 6644

Patrick d’Ancona / Eleanor Williamson +44 (0)20 7153 1539

The Capital Fund
Margaret Henry, PR Manager

JP Morgan Cazenove +44(0)1865 811199

+44(0)20 7588 2828
Steve Baldwin

Notes to Editors
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology transfer and commercialisation

Publisher Contact Information:

The Capital Fund
+44 (0)1865 811199

Company profile of The Capital Fund
Past press releases of The Capital Fund.


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