viewEmerald Clinics Ltd

Emerald Clinics on track with investments towards RWE data platform

The company manages an independent clinical service and data platform designed to capture, analyse and provide new insights into these real-world issues and provide valuable anonymous data on a subscription payment, or data acquisition model, to pharmaceutical companies, regulators and other health industry stakeholders.

Emerald Clinics Ltd - Emerald Clinics on track with investments towards RWE data platform
Emerald’s business is focused on developing valuable high-quality real-world evidence (RWE) data around the safe and effective use of medicines

Emerald Clinics Ltd (ASX:EMD) is on track with investments and estimates towards its data platform, having engaged Diamond Cyber to develop a best-in-class cybersecurity infrastructure and monitoring service during the March quarter.

The healthcare technology company also partnered with Three Springs Technology – a leading artificial intelligence data science company - to develop automated integration, quality control and data analysis workflows to keep its clinical data assets secure.

Emerald believes these partnerships enhance value of its Real-World Evidence while helping preserve patient privacy.

The company had $5.08 million in cash as of March 31.

COVID-19 patient monitoring and triage system

In March, Emerald announced it had extended its RWE data platform to existing patients and to other health group and service providers to assist in managing patient interaction.

Since the global outbreak of the COVID-19 virus, Emerald’s business has remained stable despite social distancing restrictions being enforced across Australia.

Emerald’s patient count and referral numbers continue to grow thanks to a strong referral base and Emerald’s telehealth capabilities.

Its own patient appointments were fully moved to telehealth and that service was extended to integrate with remote patient health monitoring technology, patient medical records, medication management and other data gathering tools, to provide a much richer and more useful suite of information for suspected COVID-19 patients and their carers.

An iteration of Emerald's RWE platform was also launched to help support the growing need to monitor patients diagnosed with COVID-19 and those required to self-isolate by improving the understanding of what symptoms, clinical signs and other clinical risk factors are most relevant to enable rapid patient triage and help reduce unnecessary strain on the health system.

Clinical trial research agreement

In February, the company entered into a Clinical Trial Research Agreement with Zelira Therapeutics Ltd (ASX:ZLD) to accelerate patient recruitment for a Zelira sponsored opioid reduction trial involving at-home pharmacokinetic measurements.

The trial builds on a strategic data insights collaboration agreement signed between Emerald and Zelira in 2019 and demonstrates Emerald’s capability to deliver clinical trials as well as RWE data insights.

It is designed with a primary endpoint assessing the efficacy of a full spectrum plant-derived cannabis formulation containing THC and CBD to reduce opioid dependence in chronic non-cancer patients.

Dosing is expected to be completed in Emerald’s Perth clinic by April 2020 with the final report expected to be provided by mid-2020.

Emerald was able to leverage its data platform to recruit more than 75% of the patients to the study and is providing RWE monitoring and outcomes data back to Zelira from the study.

Director appointment

Renowned UK-based thought leader in learning health systems Professor John Tooke was appointed to the board during the March quarter, bringing 30 years’ experience as a clinician-scientist and outstanding expertise from numerous board seats and university positions.

This includes his current roles as an Independent Director of BUPA Chile and Chairman of Collaboration for the Advancement of Sustainable Medical Innovation (CASMI), University College London.

He was knighted in the UK in 2007 for services to medicine and was also formerly an independent director of the BUPA main Board, Chair of the BUPA Medical Advisory Council, Head of the School of Life and Medical Sciences at University College London, past President of the Academy of Medical Sciences in the UK, a director at the Francis Crick Institute, a Member of the Council for Science & Technology reporting to the Prime Minister (UK) and served as a member of Google DeepMind Health’s Independent Review Board.

Quick facts: Emerald Clinics Ltd

Price: 0.085 AUD

Market: ASX
Market Cap: $17.97 m

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