- CardieX's (CDX) subsidiary, ATCOR, has won a contract with Bayer AG to provide clinical trial services
- ATCOR will utilise its XCELL and Oscar 2 technology and data management services
- These devices are used to non-invasively diagnosis and monitor patients with vascular disease
- The contract is expected to generate revenue of nearly A$2 million
- Services will commence in April next year and will span 15 months
- CardieX is up 7.14 per cent with shares trading at 3 cents each
CardieX's (CDX) subsidiary, ATCOR, has entered into a new contract with Bayer AG to provide clinical trial services utilising ATCOR technology and data management services.
Bayer AG is a German-based, well-recognised, multi-national pharmaceutical company. It specialises in human and veterinary pharmaceuticals, consumer health care products, agricultural chemicals and biotechnology products.
"This new contract with major pharmaceutical and life sciences company Bayer AG is further recognition of the global importance of our technology for the diagnosis and monitoring of vascular disease," CardieX CEO Craig Cooper said.
The contract will see ATCOR provide its XCEL and Oscar 2 devices which are used for the diagnosis and monitoring of vascular disease.
XCEL is the industry standard for noninvasive central blood pressure (NcBP) waveform assessment. It provides measures of the central arterial pressure waveform and pulse wave velocity as well as an assessment of arterial stiffness.
Oscar 2 is a 24-hour ambulatory device which is designed for both patient comfort and motion tolerance.
ATCOR partnered with SunTech Medical, the ambulatory blood pressure monitor (ABPM) technology leader that introduced the first and only patented cuff designed specifically for ABPM use.
The company noted that previous contracts have focused on cardiovascular trials whereas it has now shifted its focus to monitoring vascular health such as diabetes, Alzheimer's and other related disorders.
Services under the contract will commence in April next year and will span 15 months.
This is expected to generate CardieX's revenue of US$1.275 million (A$1.9 million).
CardieX is up 7.14 per cent with shares trading at 3 cents each at 1:08 pm AEDT.