StockMarketWire.com - IXICO, the brain health company, has entered into an agreement to conditionally acquire Optimal Medicine for the issue of up to £1.5m in consideration shares at an effective issue price of 49 pence per share (a 53.1% premium to the closing mid-market price of 32 pence last night).

The company is also proposing to raise approximately £2.7 million before expenses through a conditional placing at the placing price of 30.5p per share.

Chief executive Professor Derek Hill said: "The acquisition of Optimal Medicine helps us to accelerate our overall strategy towards IXICO becoming a leader in Digital Healthcare for Brain Health. Like IXICO, Optimal Medicine specialises in Brain Health, in particular in ADHD and behavioural health, and therefore expands our expertise into new disease areas.

"Optimal Medicine is a personalised medicine company which develops web based Digital Healthcare products that aid clinical decision making to improve patient outcomes. The addition of Optimal Medicine is in line with the Company's stated strategy to broaden IXICO's product offering through acquisition and gives it a foothold in the US, the biggest Digital Healthcare market globally. Optimal Medicine, which has developed clinical decision support technologies for diagnosing and treating ADHD and behavioural health for US patients, will provide IXICO with a US infrastructure, commercial and IT healthcare expertise. Optimal Medicine has also built an extensive database that is used by clinicians in the US and complements IXICO's existing data and technology in dementia and other neurodegenerative diseases.

"Optimal Medicine provides IXICO with an operational base in the important US market and should accelerate our growth into this key geography. This provides IXICO with the opportunity to grow our relationship with pharmaceutical companies in the data analytics, real world evidence and digital health fields. We look forward to working closely with our new colleagues."






Story provided by StockMarketWire.com