The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Resonance Health (RHT) is contracted by Sun Pharmaceutical Industries to provide services for its clinical trial in Australia
  • RHT will provide clinical research organisation, laboratory analysis, and imaging services at various time points throughout the trial
  • It will also provide exploratory laboratory biomarker assessment services from its new laboratory, located in Bentley Tech Park, Western Australia
  • Resonance and Sun Pharmaceutical Industries are working to identify several trial sites and investigators in WA, with patient recruitment potentially commencing in late 2023
  • RHT shares are up 18.5 per cent, trading at 7.7 cents at 12:30 pm AEST

Resonance Health (RHT) has secured a contract from internationally publicly listed company Sun Pharmaceutical Industries, to deliver services for a clinical trial to be conducted in Australia.

Over the course of 18 months, RHT will offer clinical research organisation (CRO) services, laboratory analysis, and imaging services to Sun Pharmaceuticals, in a deal valued at $6.3 million.

Additionally, the company will furnish exploratory laboratory biomarker assessment services from its newly established laboratory located in Bentley Tech Park, Western Australia.

“The agreement is a direct outcome of the Resonance Clinical initiative announced in October 2022 and I acknowledge the enormous amount of work performed over the past couple of years to position the company and enable the successful procurement of a pharma services agreement of this magnitude,” RHT CEO Andrew Harrison said.

Resonance and Sun Pharmaceutical Industries have identified multiple trial sites and investigators in Western Australia. Depending on the attainment of regulatory approvals, patient recruitment for the trial could potentially commence in late 2023.

RHT shares were up 18.5 per cent, trading at 7.7 cents at 12:30 pm AEST.

RHT by the numbers
More From The Market Online
The Market Online Video

Market Close: Autumn’s ASX200 record breaking start

The ASX200 has closed the first day of Autumn at a new record 7745.6 points -…
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.

Week 9 Wrap-up: ASX hits 2 new ATHs on US inflation + the headlines that mattered

What a week. As US markets continue to go crazy after the American earnings season (read: NVIDIA), the ASX has done the same. 
OBM

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…