Atcor Medical Holdings Limited (ASX:ACG) has signed a $1 million contract to supply its SphygmoCor® systems and clinical trial support services to a major international pharmaceutical company.
Central arterial pressure waveform analysis, as measured by the SphygmoCor system, provides clinicians with better prognostic and diagnostic information to determine the need for and type of interventions.
New contract expected to open up more opportunities for AtCor
The international pharmaceutical company is a new client for AtCor. The clinical trial is in the treatment of heart failure and will be conducted across several European sites.
It is a phase II trial which, if successful, is expected to open a larger opportunity for AtCor. The trial will run for 18-24 months and the majority of revenue will be recognised in FY2019.
This contract is further validation of AtCor’s core technology in large pharmaceutical trials for the treatment of heart failure and related disorders.
Heart failure is a costly disease
Heart failure is a chronic, progressive condition in which the heart muscle is unable to pump enough blood through to meet the body's needs for blood and oxygen.
In the U.S. alone, circa 5.7 million people have heart failure at a total economic cost of over US$30 billion per annum.
There is increasing interest in utilising SphygmoCor in heart failure trials and in the clinic.
This is the second heart failure trial using SphygmoCor to commence in the past 6 months and discussions are underway for additional trials.
More than 4,000 SphygmoCor systems are currently in use worldwide at major medical institutions, doctors’ offices, research institutions and in various clinical trials.
