Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

London University Spin-out Company raises funding to develop Innovative Software for Clincial Trials

27.07.2006
IXICO Ltd, a London University spin-out company that has developed innovative software to automate the analysis of digital clinical images used in drug discovery and development, has raised £930,000. The Capital Fund, a £50 million venture capital fund that invests in fast-growth companies in Greater London, provided £100,000, investing alongside high net worth investors who furnished £830,000. The deal marks The Capital Fund’s 40th investment since it was launched in 2002 and IXICO’s management team plans to use the new capital to fund its development programme and significantly grow the business.
Founded in 2004, IXICO provides state of the art image analysis solutions for
pre-clinical and clinical trials that are based on sophisticated computer algorithms devised by its four scientific founders. The company’s software can automatically analyse thousands of digital images, such as MRI, CT and PET scans collected during clinical trials, to provide pharmaceutical companies with fast, accurate results about the impact of potential new drug molecules on disease effects such as brain volume changes in dementia or bone degeneration in arthritis.

Professor Derek Hill, Chief Executive Officer of IXICO Ltd, said: “The current approaches to medical image analysis in clinical trials rely on highly-skilled radiologists and technicians ‘reading’ and painstakingly comparing images that are often acquired at different centres and different points in time. This process is expensive, time consuming and subject to error.

Our service is completely automated and uses sensitive and reproducible algorithms to quantify changes in the patient over time and hence assess the effectiveness or ineffectiveness of a treatment during trials. It can also compensate for the misplacement or movement of a patient in the scanner, compare images taken at different points in time and provide a full audit trial of the analysis process. As our service is scaleable, it can be used to analyse thousands of images in very early drug tests or in late phase trials. The end result for patients is the faster development of new, more effective treatments for painful or life threatening conditions.”

IXICO’s 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. Clients include a number of major pharmaceutical and healthcare companies, for whom IXICO designs bespoke services, and the company is in advanced negotiations with additional prospective customers.

Professor Hill said: “A key feature of our technology is that the image analysis workflows in the programmes can be easily reconfigured to suit the specific requirements of different pharmaceutical companies. And we have designed our technology platform so that their staff can access the analysis results from computers in a variety of locations via a secure web portal.”

This is IXICO’s first institutional fundraising round and follows its recent success in securing a prestigious £140,000 DTI Grant for Research & Development through the London Development Agency.

Professor Hill commented on the fundraising process: “We are delighted with the success of this funding round. We spoke to several funds but were happy to work with The Capital Fund as they were prepared to share the risk with us and our angel investors by providing vital capital on straightforward terms. They have also helped us to introduce key disciplines that will be particularly useful as we grow the business.”

The Capital Fund’s Investment Manager, Helen Reynolds, said: “IXICO has created a truly innovative technology that has the potential for use across a wide range of medical applications. We were impressed by the quality of the research behind the company’s service and the calibre of the management team, especially Derek Hill, 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.”

Margaret Henry | alfa
Further information:
http://www.oxin.co.uk
http://www.thecapitalfund.co.uk

More articles from Information Technology:

nachricht Stable magnetic bit of three atoms
21.09.2017 | Sonderforschungsbereich 668

nachricht Drones can almost see in the dark
20.09.2017 | Universität Zürich

All articles from Information Technology >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: The pyrenoid is a carbon-fixing liquid droplet

Plants and algae use the enzyme Rubisco to fix carbon dioxide, removing it from the atmosphere and converting it into biomass. Algae have figured out a way to increase the efficiency of carbon fixation. They gather most of their Rubisco into a ball-shaped microcompartment called the pyrenoid, which they flood with a high local concentration of carbon dioxide. A team of scientists at Princeton University, the Carnegie Institution for Science, Stanford University and the Max Plank Institute of Biochemistry have unravelled the mysteries of how the pyrenoid is assembled. These insights can help to engineer crops that remove more carbon dioxide from the atmosphere while producing more food.

A warming planet

Im Focus: Highly precise wiring in the Cerebral Cortex

Our brains house extremely complex neuronal circuits, whose detailed structures are still largely unknown. This is especially true for the so-called cerebral cortex of mammals, where among other things vision, thoughts or spatial orientation are being computed. Here the rules by which nerve cells are connected to each other are only partly understood. A team of scientists around Moritz Helmstaedter at the Frankfiurt Max Planck Institute for Brain Research and Helene Schmidt (Humboldt University in Berlin) have now discovered a surprisingly precise nerve cell connectivity pattern in the part of the cerebral cortex that is responsible for orienting the individual animal or human in space.

The researchers report online in Nature (Schmidt et al., 2017. Axonal synapse sorting in medial entorhinal cortex, DOI: 10.1038/nature24005) that synapses in...

Im Focus: Tiny lasers from a gallery of whispers

New technique promises tunable laser devices

Whispering gallery mode (WGM) resonators are used to make tiny micro-lasers, sensors, switches, routers and other devices. These tiny structures rely on a...

Im Focus: Ultrafast snapshots of relaxing electrons in solids

Using ultrafast flashes of laser and x-ray radiation, scientists at the Max Planck Institute of Quantum Optics (Garching, Germany) took snapshots of the briefest electron motion inside a solid material to date. The electron motion lasted only 750 billionths of the billionth of a second before it fainted, setting a new record of human capability to capture ultrafast processes inside solids!

When x-rays shine onto solid materials or large molecules, an electron is pushed away from its original place near the nucleus of the atom, leaving a hole...

Im Focus: Quantum Sensors Decipher Magnetic Ordering in a New Semiconducting Material

For the first time, physicists have successfully imaged spiral magnetic ordering in a multiferroic material. These materials are considered highly promising candidates for future data storage media. The researchers were able to prove their findings using unique quantum sensors that were developed at Basel University and that can analyze electromagnetic fields on the nanometer scale. The results – obtained by scientists from the University of Basel’s Department of Physics, the Swiss Nanoscience Institute, the University of Montpellier and several laboratories from University Paris-Saclay – were recently published in the journal Nature.

Multiferroics are materials that simultaneously react to electric and magnetic fields. These two properties are rarely found together, and their combined...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

“Lasers in Composites Symposium” in Aachen – from Science to Application

19.09.2017 | Event News

I-ESA 2018 – Call for Papers

12.09.2017 | Event News

EMBO at Basel Life, a new conference on current and emerging life science research

06.09.2017 | Event News

 
Latest News

Rainbow colors reveal cell history: Uncovering β-cell heterogeneity

22.09.2017 | Life Sciences

Penn first in world to treat patient with new radiation technology

22.09.2017 | Medical Engineering

Calculating quietness

22.09.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>