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- Opyl (OPL) enters into a master services agreement (MSA) and agrees to recruitment contracts worth $145,000 with Bristol Myers Squibb (BMS)
- The contracts will benefit clinical studies in psoriatic arthritis through the use of the company’s innovative Opin.AI platform
- With 80 per cent of trials across the globe failing to recruit on time or on budget, Opyl’s platform limits the risk of clinical trial failures
- MSA places Opyl as approved and preferred supplier to BMS, helping to secure other contracts and further push revenue growth
- OPL shares are up 31 per cent, trading at 3.8 cents at 1:57 pm AEDT
Opyl (OPL) has entered into a master services agreement (MSA) and signed contracts to offer clinical trial recruitment services worth $145,000 to Bristol Myers Squibb (BMS).
BMS is a leading global pharmaceutical company, developing innovative medicines to help patients overcome serious diseases.
The recruitment contracts will benefit clinical studies in psoriatic arthritis, which involves 120 patients and is carried out over six months, commencing immediately.
Bristol Myers Squibb chose Opyl’s innovative Opin.AI platform, a digital health research recruitment solution, as it has a proven track record of swift and accurate participant recruitment.
With 80 per cent of trials across the globe failing to recruit on time or on budget, Opyl’s platform mitigates risks associated with clinical trial failures.
The revenue from the contracts, along with the MSA, will boost Opyl’s status as approved and preferred supplier status, allowing the company to bid and secure additional or local contracts with BMS.
“MSAs provide us a clear pathway to grow Opin.AI’s revenue exponentially,” Opyl Chief Executive Officer Michelle Gallaher said.
“The outlook for Opyl is particularly bright given that we have also recently signed an MSA with British pharmaceutical giant GSK plc and are working actively with them on securing recruitment contracts.”
With more than 50 compounds in development in more than 35 diseases area globally, Opyl believes it can assist BMS in de-risking its clinical development programs.
OPL shares were up 31 per cent, trading at 3.8 cents at 1:57 pm AEDT.
