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Radiopharmaceutical company Cyclopharm (ASX: CYC) has landed a further multi-site agreement, this time with leading United States academic health system operator Northwestern Memorial HealthCare.
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The seven-site deal provides for one immediate installation of Cyclopharm’s Technegas system at the Northwestern Memorial Hospital in Chicago.
It also covers the potential of up to an additional six Technegas installations across the Northwestern Medicine network over time. Northwestern Memorial Hospital is ranked among the top 20 hospitals in the U.S. and is one of the premier academic health systems in the Midwest.
Cyclopharm’s MD and CEO, James McBrayer, said the addition of Northwestern Medicine further reinforces Cyclopharm’s growing footprint across major U.S. systems and highlights increasing adoption of Technegas by top-tier institutions.
“Securing a multi-site agreement with Northwestern Medicine represents another significant milestone in our US expansion,” he said today.
“Northwestern is a premier academic health system and a recognised leader in clinical excellence. Establishing Technegas in Chicago provides us with a critical foothold in a major US healthcare market and positions us strongly for broader expansion across the Midwest.
“Agreements of this nature, combining an initial installation with a contracted pathway to multiple sites, are central to our strategy of driving scalable, recurring revenue growth in the US.”
Mr McBrayer said the agreement is material to Cyclopharm’s U.S. commercial rollout, providing a new regional entry point and establishing the company’s presence in Chicago, one of the largest and most strategically important healthcare markets in the U.S.
“The agreement strengthens Cyclopharm’s strategy of securing high-quality reference sites within leading US academic health systems and expanding across integrated delivery networks (IDNs),” he explained.
Technegas is a nuclear medicine imaging agent used for diagnosing pulmonary embolism and other respiratory conditions.
The deal follows Cyclopharm’s previously announced multi-site agreement with the University of Pennsylvania Health System (UPHS), covering 11 clinical locations.
CYC is up +8% on today’s news, to 81cps at close.
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