Biotech data firm sees 33 per cent growth despite “COVID-19 headwinds”

Data specialist IXICO has confirmed it expects to see a 33 per cent year-on-year revenue growth despite the ongoing COVID-19 crisis.

The London-headquartered data analytics company, which specialises in delivering insights for the pharmaceutical and biotech sectors, has provided an update ahead of its results.

The firm has estimated its revenues for the six months up to March 31 to be £4.6m, compared with £3.4m in 2019.

Giulio Cerroni, CEO of IXICO, commented: ““By leveraging IXICO’s proprietary software technology, our proven remote-access business model has enabled us to minimize disruption to our service levels and continue to deliver image analysis services to our existing portfolio of clinical trial projects.

“Despite the COVID-19 headwinds, we are delighted to be able to report a seventh consecutive reporting period of greater than 20 per cent revenue growth whilst building a record order book for the Company in these unprecedented times.

“Given the revenue growth momentum, strong balance sheet and record order book, we are in a robust position to manage the short-term headwinds of COVID-19 and to continue to pursue our key investments for the medium and longer term.”