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- CardieX’s (CDX) subsidiary ATCOR and pharmaceutical company Bayer AG enter a new agreement for its CONCORD clinical trial
- The trial focuses on patients with chronic kidney disease and diabetes or hypertension using ATCOR’s XCEL technology, an FDA cleared device for measuring the central aortic waveform and reporting on clinical data
- Bayer originally contracted ATCOR in December 2017 for US$756,000 (around A$1 million), with the new agreement now reaching more than US$2 million (A$2.76 million)
- The contract value increase is attributed to incremental patient visits over a further 15 sites in two extra countries
- CardieX shares are up 3.08 per cent, trading at 6.7 cents at 3:13 pm AEST
CardieX’s (CDX) subsidiary ATCOR and pharmaceutical company Bayer AG have entered into a new agreement for its CONCORD clinical trial.
The amended agreement covers the lease of ATCOR devices and the provision of expanded data management services for Bayer’s CONCORD clinical trial.
The trial looks at patients with chronic kidney disease and diabetes or hypertension using ATCOR’s XCEL technology, an FDA cleared device for measuring the central aortic waveform and reporting on clinical data.
Bayer originally contracted ATCOR in December 2017 to provide a clinical trial lab and data management services plus devices for the trial, with a contract value of US$756,000 (around A$1 million). This was then expanded in March 2020 to the value of US$1.53 million (roughly A$2.11 million).
This week’s new agreement now reaches more than US$2 million (A$2.76 million).
The increase in contract value is attributed to incremental patient visits over a further 15 sites in two extra countries, bringing the trial sites to 84 across 13 countries.
CEO and Managing Director of CardieX Craig Cooper said the contract amendment and expansion continued to validate the capabilities of its FDA-cleared technology.
“Importantly, it is this technology – that is trusted by the leading global pharmaceutical companies – that forms the basis of our competitive differentiation as we expand into wearables, smart home health devices and other new markets,” Mr Cooper said.
CONCORD said it remained on schedule to finish up by January 2022, in accordance with the anticipated contract date.
CardieX shares were up 3.08 per cent, trading at 6.7 cents at 3:13 pm AEST.
