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- Emyria (EMD) signs a letter of intent with US biomedical device company Cydelic to collaborate on psychedelic-assisted therapy
- Cydelic develops wearable devices to monitor the wellbeing of patients undertaking psychedelic-assisted therapy
- Upon signing a contract, EMD plans to incorporate the monitoring technology into its real-world data platform to assess physiological parameters of patients
- The parties will bear individual costs for development of the contract which will be prepared over the next 30 days
- Shares have been trading 5.4 per cent lower at 35 cents each
Emyria (EMD) has partnered with US biomedical device company Cydelic to collaborate on psychedelic-assisted therapy.
Based in Seattle, Cydelic develops wearable devices to monitor patients’ wellbeing before, during and after psychedelic-assisted therapy.
As defined in a letter of intent, the companies plan to work together across EMD’s psychedelic treatment programs to gain biometric data to assist with real-time safety and dose response analysis, as well as the potential registration of psychedelic-assisted therapies.
The data, when combined with clinical outcome measurements, will be owned by Emyria with Cydelic to receive anonymised, non-clinical, device data for technical support only.
A formal contract is expected to be developed in the next 30 days to cover the provision and configuration of remote monitoring devices and proprietary software integrating data received from these devices.
Upon finalising the contract, Emyria hopes to incorporate the wearable devices in its real-word data platform.
The company’s MDMA-assisted therapy trial for post-traumatic stress disorder will be the first to incorporate the technology to track physiological parameters.
As the Therapeutics Goods Administration recently decided not to reschedule MDMA and psilocybin from Schedule 9 to Schedule 8, Emyria believes it has an important role in further developing treatments through clinical studies and careful data collection.
The company said these processes will benefit from real-world data from wearable technologies and novel treatment development.
Emyria’s Managing Director Dr Michael Winlo said the company is delighted to be working with Cydelic and to add remote monitoring to its therapy programs and clinical trials.
“By paying close attention to a patient’s physiology with remote monitoring we can build
a unique Real-World Data asset that can help clinicians optimise the patient experience
and improve clinical outcomes.”
“It is hoped this unique data can also help with the registration and reimbursement of these treatments,” he said.
Both parties will cover the respective costs for the development of the contract. Cydelic is set to receive payments determined on a trial-by-trial and program-by-program basis depending on monitoring and technical requirements.
Shares in Emyria were trading 5.4 per cent lower at 35 cents each at 12:54pm AEDT.
