- ImpediMed (IPD) extends its clinical trial contract with AstraZeneca for the third time
- The contract is for further use of IPD’s SOZO digital health platform in a clinical trial being conducted by AstraZeneca on chronic kidney disease
- The trial has now been extended from 21 months to 29 months, with 210 SOZO devices being used throughout the extension
- The contracts will generate a sum of over $6.7 million in revenue, with the clinical trials now scheduled to be completed in April 2023
- Shares in ImpediMed last traded at 9.2 cents at 3:15 pm AEDT
ImpediMed (IPD) has extended its clinical trial contract with AstraZeneca for the third time.
The contract is for further use of IPD’s SOZO digital health platform in a clinical trial being conducted by AstraZeneca.
The phase IIb trial is using SOZO to track a patient’s fluid volume in a pharmaceutical study focused on chronic kidney disease, which will be used while AstraZeneca evaluates the efficacy, safety and tolerability of a combination of two of its drugs.
The trial has now been extended from 21 months to 29 months, with 210 SOZO devices being used throughout the extension. Having first begun in November 2020, it is now scheduled to be completed in April 2023.
With the new extension, the contracts will generate a total sum of over $6.7 million in revenue across the trials.
The company has pocketed roughly $5.7 million in revenue to date, with the remaining $1 million of the revenue to be recognised throughout the remainder of the 2023 financial year.
Under the terms of the agreement each device will have a monthly license fee for the duration of the trial and ImpediMed will retain ownership of each piece at the study’s conclusion.
Shares in ImpediMed last traded at 9.2 cents at 3:15 pm AEDT.