IXICO signs MOU with Beijing UMP

RNS Number : 4123U

IXICO plc

02 December 2013

 



2 December 2013

IXICO plc

("IXICO" or "the Company")

IXICO signs memorandum of understanding with Beijing Union Medical and Pharmaceutical General Corporation during the Prime Minister's trade mission to China

Jeremy Hunt supports IXICO's MOU to develop dementia diagnostic and research services for the Chinese market, the world's largest dementia market

IXICO plc ('IXICO' or the 'Company'), the brain health company, announces that it has today signed a memorandum of understanding ('MOU') with the Beijing Union Medical and Pharmaceutical General Corporation ('UMP').  UMP is a fully owned subsidiary of the prestigious Chinese Academy of Medical Sciences (CAMS) and is its innovation arm.   

The MOU states that IXICO and UMP plan to work together (i) to deploy a neuroimaging informatics platform in China to support dementia diagnosis, (ii) to advance public understanding of dementia, and (iii) to use imaging biomarkers to enrich study populations to streamline the evaluation of new dementia treatments.

It is estimated that in China a significant majority of the dementia population remain undiagnosed and currently an estimated 6-10 million people have dementia (c. 20-25% of the world's dementia cases), of which c. 60% of which have Alzheimer's disease.¹  Furthermore, the total annual healthcare costs for dementia are estimated at £5.5 billion and the annual loss to the economy is around £9 billion.  The incidence rate of dementia is estimated to double over the next 20 years as the Chinese population ages and by 2040, the population with dementia in China is expected to equal the total in all high income countries.²

IXICO's chief executive, Professor Derek Hill, is a member of the British Prime Minister's current trade delegation to China along with the Secretary of State for Health in England and other representatives from British business. 

The MOU was signed by Steve Jiang on behalf of UMP and Derek Hill on behalf of IXICO at a UK-China healthcare strategic partnering event attended by the Rt. Hon. Jeremy Hunt, the Secretary of State for Health in England.

Commenting on the signing of the MOU, Jeremy Hunt, Secretary of State for Health in England, said:

'Early diagnosis and high quality research into dementia are essential if we are to help people with the disease live well for as long as possible.   It's great to see a British company at the leading edge of technology for dementia research and diagnosis in the UK now exporting its expertise to China.'

Steve Jiang, President of the Beijing Union Medical and Pharmaceutical General Corporation, said:

'Improving brain health is an important priority for UMP.  We are delighted to be formalizing our relationship with IXICO and look forward to deploying IXICO technology in Beijing.'

Professor Derek Hill, Chief Executive of IXICO plc added:

'There is a large unmet need in China for earlier and more accurate diagnosis of dementia.  China represents a large opportunity for IXICO: there are more dementia sufferers in China than in any other country in the world.  This MOU is an important initial step to enable IXICO technology to be used to support improved dementia diagnosis and the development of new treatments for China's current and future dementia sufferers.'  

¹ 'Overview of Chinese research on senile dementia in mainland China'. Song Y, Wang J.  Ageing Res Rev. November 2010. 'Determinants for undetected dementia and late-life depression'. Chen. British Journal of Psychiatry, 26 July 2013

² The Twelfth Five-Year Plan for the Development of Ageing in China. Chinese State Council. World Alzheimer Report 2009. Alzheimer's Disease International

Notes to editors:

CAMS

CAMS is the only national medical science academic centre and comprehensive medical research institution in China, and UMP is wholly owned by CAMS as its platform for external commercial cooperation.

The China-UK Business Summit:

The British Business Embassy was created during the 2012 London Olympics and Paralympics.  Prime Minister David Cameron and over thirty Ministers welcomed around 4,000 business leaders and global figures to London's Lancaster House in the largest and most ambitious set of trade and investment events ever held in the UK. 

The China-UK Business Summit at the British Business Embassy in Beijing has brought China and UK  businesses together to discuss how to maximise the diverse trade, investment and collaboration opportunities created by China's rapid economic development. It is a statement of both Governments' commitment to supporting business and will act as a springboard to help companies on both sides make the connections to advance their business relationships. 

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 being readied for launch into the wider clinical diagnostic market. Since incorporation, IXICO has been contracted by seven 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

Enquiries

IXICO plc

[phone]

Derek Hill, CEO

Charles Spicer, VP Corporate Development

Peel Hunt LLP (Nominated Adviser and broker)

[phone]

James Steel

Vijay Barathan

Harry Florry                                               

FTI Consulting Limited (U.K. Investor Relations)

[phone]

Ben Atwell                                               

Simon Conway

John Dineen

 

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