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- CardieX (CDX) subsidiary ATCOR pens a new clinical trial services agreement for its XCEL devices and data management services
- ATCOR’s products and services will be used in a clinical trial to determine arterial health outcomes for the assessment of arterial health over a 30-month period
- CardieX says the total revenue to be received by ATCOR over the length of the trial is anticipated to be twice the FY22 revenues for the entire business
- While the revenue attribution across the trial’s duration is yet to be determined, CDX expects to receive roughly 40 per cent of the cashflow from the trial in FY23
- CardieX shares soar 12.9 per cent to trade at 35 cents at 3:08 pm AEDT
CardieX (CDX) subsidiary ATCOR has penned a new clinical trial services agreement for its XCEL devices and data management services.
Under the agreement, ATCOR’s products and services will be used in all phases of a new global clinical trial.
The trial will determine clinically-relevant arterial health outcomes based on CardieX’s patented SphygmoCor digital vascular biomarkers for the assessment of arterial health over a 30-month period.
“We are excited to utilize our team’s 20+ years of combined clinical trial experience to integrate our XCEL SphygmoCor system into this important trial,” ATCOR Manager of Clinical Trials Bob Hayes said.
“This trial draws on our proven ability to provide non-invasive central blood pressure and associated hemodynamic digital biomarkers with a custom-configured solution for our client.”
ATCOR’s XCEL device can non-invasively measure central aortic waveforms and report on associated clinical data in adult subjects.
Today’s agreement is with a procurement partner with an established clinical trial support and procurement business that can provide medical equipment for drug development in over 150 countries.
“This is a very significant trial for the company and continues to validate our industry-leading SphygmoCor technology for specialized clinical trial services — as well as our prior statements about the strength of our clinical trial pipeline,” CardieX CEO and MD Craig Cooper said.
CardieX told investors the total revenue to be received by ATCOR over the length of the trial was anticipated to be twice the FY22 revenues for the entire business.
While the revenue attribution across the trial’s duration is yet to be determined, CDX expects to receive roughly 40 per cent of the cashflow from the trial in FY23.
CardieX shares soared 12.9 per cent to trade at 35 cents at 3:08 pm AEDT.
