Resonance Health Ltd (ASX:RHT) has executed two separate multi-year contracts with pharmaceutical and therapeutic companies for a total value of US$522,000.
The contracts are for the use of Resonance’s FerriScan product, as well as other health products and services.
Payment will be made throughout the duration of the clinical trials with payment for each trial subject to its successful completion.
Pursuing additional opportunities
Including the two new contracts, Resonance’s total amount of clinical trial work won in the 2018 calendar is around US$1.4 million.
FerriScan and other Resonance services are now being used by seven pharmaceutical and therapeutic companies in a total of eight clinical trials.
Resonance is continuing to purse additional clinical trial opportunities as the company looks to further utilise its capabilities to provide contract research organisation services.
The company has also submitted the application for regulatory clearance for its FerriSmart product, an artificial intelligence tool for the quantification of liver iron concentration.
READ: Resonance Health signs deal to distribute artificial intelligence tool for diabetic retinopathy
Resonance is a healthcare company specialising in the development and delivery of non-invasive medical imaging software and services.
Its products are used by clinicians in the diagnosis and management of human diseases and by pharmaceutical companies in their clinical trials.