Resonance Health Ltd

Resonance Contracted by Major Global Pharma Company for Clinical Drug Trial Worth $13.775 Million over 24 Months

Resonance Health Ltd (ASX: RHT) (Resonance or the Company) advises that it has been contracted by Sun Pharmaceutical Industries Limited, an international, publicly listed pharmaceutical company with global operations (Customer) to be the local Australian sponsor, and to provide clinical research organisation (CRO) services, trial site services, and imaging analysis services (collectively, Services), for their clinical trial in Australia of a new drug compound (Clinical Trial).


New Clinical Trial

The newly executed clinical trial agreement (Agreement) is worth an estimated AUD $13.775 million in revenue to the Resonance group over the next ~24 months, with the first payment of AUD $2.066 million due within 30 days of Agreement execution. Resonance, through its wholly owned subsidiary, CRO Services Pty Ltd (CRO Services), will serve as CRO and Local (Australian) Sponsor for the Customer and will engage and make payment to the institutions, trial sites, and the vendors needed to conduct the Clinical Trial.

Whilst the Company will receive the first payment within 30 days of Agreement execution, provision of the Services under the Agreement (and the remaining payments) are subject to (among other things) receipt of regulatory approvals to commence the Clinical Trial including human research ethics committee approval (Regulatory Approvals).

Resonance will provide its imaging analysis services at various timepoints throughout the Clinical Trial along with clinical trial site services through its recently acquired TrialsWest business. It is notable that trial sites are among the largest vendors for clinical trials of this nature, so a benefit of the TrialsWest acquisition is that a significant portion of the revenues payable to trial sites will now stay within the Resonance group.

The Company expects patient recruitment for the Clinical Trial could commence in early 2025, subject to receipt of Regulatory Approvals, with both TrialsWest sites expected to play a key role in the recruitment of subjects and the conduct of the Clinical Trial.

This contract win highlights Resonance’s strategy of providing its technology and services to the burgeoning and highly technical global pharma and clinical trials markets.

The material commercial terms of the Agreement are set out at Annex A.

Resonance Health CEO, Mr Andrew Harrison commented:

“The Agreement is a direct result of the incredible work the team have done in executing the existing clinical trial with the customer and more broadly the Company’s focus on winning more work in the global clinical trials ecosystem. This illustrates our ability to win repeat work from customers, and our capacity to scale the size of contract wins.”

This announcement has been authorised for release in accordance with the delegated authority of the Board of Directors of Resonance Health Ltd.


Click here for the full ASX Release

This article includes content from Resonance Health Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Emyria Limited

Medibank to Fund Emyria’s PTSD Program at Perth Clinic

Emyria Limited (ASX: EMD) (“Emyria”, or the “Company”) a leader in developing and delivering innovative mental health treatments, is pleased to announce that Medibank Private Limited (“Medibank”), Australia’s largest private health insurer, has commenced funding for eligible customers to access Emyria’s Empax PTSD care program delivered in association with Perth Clinic.

Keep reading...Show less
AbbVie Provides Update on VERONA Trial for Newly Diagnosed Higher-Risk Myelodysplastic Syndromes

AbbVie Provides Update on VERONA Trial for Newly Diagnosed Higher-Risk Myelodysplastic Syndromes

AbbVie (NYSE: ABBV) announced the global Phase 3 VERONA trial evaluating venetoclax in combination with azacitidine in the treatment of newly diagnosed higher-risk myelodysplastic syndrome (HR-MDS) did not meet the primary endpoint of overall survival (OS) with a hazard ratio (HR) of 0.908; stratified log-rank, p=0.3772. No new safety signals were observed. 1 Results from the VERONA trial will be available in a future medical congress andor publication. Any patients who received venetoclax in combination with azacitidine through participation in the MDS clinical trials will be informed by their treating physician.

These data do not impact any current approved indications for venetoclax.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
ASX:HIQ

HITIQ Announces Exclusive Global Agreement with Shock Doctor for PROTEQT Instrumented Mouthguard

Common Shareholder Questions – Entitlement Offer

HITIQ Limited (ASX: HIQ) (HITIQ or the Company), a pioneer in concussion management, proudly announces an exclusive global agreement with Shock Doctor, the world’s leading mouthguard innovator. This landmark agreement marks Shock Doctor’s two-year effort to design a mouthguard that will integrate HITIQ’s PROTEQT technology. The result is a fully developed, market-ready solution that merges HITIQ’s smart sensor technology with Shock Doctor’s unmatched global production partner capabilities.

Keep reading...Show less
U.S. FDA Approves Expanded Indication for AbbVie's MAVYRET®  as First and Only Treatment for People with Acute Hepatitis C Virus

U.S. FDA Approves Expanded Indication for AbbVie's MAVYRET® as First and Only Treatment for People with Acute Hepatitis C Virus

  • MAVYRET ® (glecaprevir/pibrentasvir) is the first and only oral eight-week pangenotypic treatment option approved for people with acute or chronic hepatitis C virus (HCV)*
  • With this approval, providers can now treat HCV patients immediately at the time of diagnosis
  • HCV is a curable condition, but patients can often go undiagnosed. 1 If left untreated, people with acute HCV   could progress to chronic disease, including liver-related complications, such as cirrhosis or liver cancer 1
  • The approval supports global clinical guidelines to advance testing and treatment for people with HCV regardless of chronicity, and supports public health goals for disease elimination

AbbVie (NYSE: ABBV) today announced that the U.S. Food and Drug Administration (FDA) approved a label expansion for MAVYRET ® (glecaprevirpibrentasvir), an oral pangenotypic direct acting antiviral (DAA) therapy. It is now approved for the treatment of adults and pediatric patients three years and older with acute or chronic hepatitis C virus (HCV) infection without cirrhosis or with compensated cirrhosis. With this approval, MAVYRET is the first and only DAA therapy approved to treat patients with acute HCV in eight weeks with a 96% cure rate. 2,†

HCV is a highly infectious blood-borne disease affecting the liver. 1 People recently infected, or those with acute HCV, may not have symptoms. 1 If left untreated, HCV could lead to liver-related complications, such as cirrhosis or liver cancer. 1 The United States is expected to incur ~$120 billion in total medical costs over the next 10 years through 2035 linked to chronic liver disease and other related conditions caused by untreated HCV. 3

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
HeartSciences Inc

HeartSciences Receives FDA Breakthrough Device Designation for MyoVista Insights AI-ECG Algorithm for Detecting Aortic Stenosis

Aortic Stenosis is a Serious and Widespread Condition; The AI-ECG Algorithm Offers a Powerful Diagnostic Solution Designed for Seamless Integration with Hospital EHR Systems

Keep reading...Show less
AbbVie Invites People Living with Migraine to Enter the Second Annual AbbVie Migraine Career Catalyst Award Contest to Support Their Professional Goals

AbbVie Invites People Living with Migraine to Enter the Second Annual AbbVie Migraine Career Catalyst Award Contest to Support Their Professional Goals

  • The AbbVie Migraine Career Catalyst Award™ contest is now open for entries, offering financial support to help winners pursue career and professional development goals.
  • As the only company with three approved products designed to meet patient needs across the spectrum of migraine, AbbVie is   committed to supporting the migraine community beyond treatment.
  • Migraine affects productivity and career growth—up to 90% of people with migraine report it interferes with their ability to function at work, highlighting the need for meaningful support beyond treatment.

- AbbVie (NYSE: ABBV) today announced the second annual AbbVie Migraine Career Catalyst Award ™ contest is now accepting entries. AbbVie is proud to continue this nationwide initiative supporting people living with migraine by awarding 20 entrants with $2,500 each that they may use to pursue their personal, professional, and educational goals.

"Migraine can be an invisible barrier to success in the workplace where the condition is often misunderstood or stigmatized," said Carl Cincinnato , executive director, Migraine at Work, a nonprofit initiative under the World Health Education Foundation dedicated to improving workplace environments for individuals living with migraine. "Initiatives like the AbbVie Migraine Career Catalyst Award™ contest not only provide financial support but also serve as a powerful form of advocacy for people living with migraine."

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×