The funding round, which follows IXICO’s recent securing of a £140,000 DTI Grant for research & development, also marks The Capital Fund’s fortieth investment to date.
The company’s software automates the analysis of digital clinical images for clinical trials and is based upon the research of its founders, Professor Derek Hill and Professor David Hawkes of University College and Professor Jo Hajnal and Professor Daniel Rueckert of Imperial College, as well as technology licensed from Kings College, London. All three colleges hold equity stakes in the business.
The company’s software automatically analyses the thousands of digital images (including MRI and CT scans) that are collected during clinical trials to provide pharmaceutical companies with clues as to the potential impact of new drug molecules. Chief executive Professor Hill says IXICO’s services are faster and more accurate than current approaches. ‘The end result for patients is the faster development of new, more effective, treatments for painful or life threatening conditions.’
This funding round, which follows IXICO’s recent securing of a £140,000 DTI Grant for research & development, also marks The Capital Fund’s fortieth investment since it was launched in 2002.