Opyl, Phenix Health to Partner on AI Validation of Clinical Trials for Cannabis Products

Artificial intelligence (AI) company Opyl (ASX:OPL) has entered into a non-exclusive partnership with Phenix Health’s Compendium platform to validate clinic trials associated with cannabis products.

“Compendium is the first clinician-only medical cannabis knowledge base designed to streamline the prescribing process and enhance clinical decision-making,” Opyl said on Monday (September 23).

The platform has over 120 suppliers and more than 900 products listed.

Under the deal, clinicians using Compendium will be able to use Opyl’s AI-powered TrialKey solution to make data-driven decisions. At the same time, the companies believe TrialKey's advanced simulation and predictive analytics will help suppliers position their products to healthcare professionals.

"This partnership demonstrates the transformative potential of TrialKey in the cannabis industry,” said Saurabh Jain, executive chairman of Opyl. “By delivering Al-powered validation reports for clinical trials, we provide suppliers with the crucial research they need to demonstrate the efficacy of their products, facilitating market entry and growth."

Each validation report from TrialKey is priced at AU$5,000. The documents will provide insight into trial variables, competitor assessments, patient recruitment strategies and site selection recommendations.

Opyl said the agreement does not involve any direct financial exchange between both parties, but noted that it will potentially be able to generate revenue through Compendium’s suppliers.

Meanwhile, suppliers using TrialKey reports will be prioritised on Compendium. They will also gain access to global data and a holistic view of each product’s trial history.

"Our collaboration with Opyl enables us to offer suppliers the cutting-edge tools needed to navigate the complex regulatory environment in Australia,” said Gillian Alexis, CEO of Phenix Health.

She added that TrialKey's data-driven validation reports are “an essential resource for any supplier looking to build credibility and trust within the healthcare community."

Opyl and Compendium's partnership is valid for 12 months. Either may terminate the deal with 30 days written notice.

Don’t forget to follow us @INN_Australiafor real-time news updates!

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.