leadf
logo-loader
viewOpyl Ltd

Opyl shares jump after developing a software that predicts the likelihood of vaccine trial success

The company’s shares surged 162% higher intra-day and settled 77% higher at 23 cents before being granted a trading halt by the ASX.

Opyl Ltd - Opyl shares jump after developing a software that predicts the likelihood of vaccine trial success
Opyl is applying its platform towards COVID-19 therapeutic and vaccine programs

Opyl Ltd (ASX:OPL) has developed a software that uses artificial intelligence (AI) to make a probability of success prediction on the likelihood of a vaccine, drug, diagnostic or medical device succeeding in clinical trials.

Refining clinical trials

Previous studies demonstrated that on average only 13.8% of all drugs in phase 1 clinical trials eventually win approval from regulators and enter the market.

Typically, vaccines have a higher success rate (33.4%) than most other drugs, while cancer drugs have a far lower rate of success (3%).

The application of the Opyl software platform is to work with drug and device development companies to refine their clinical trial approaches to improve the outcomes of their clinical studies, which reduces costs and accelerates the timeline to get new treatments to patients.

Success prediction tool

Opyl chief executive officer Michelle Gallaher said: “We can see significant value in using the tool to inform clinical and treatment strategies, early procurement decision making and investments.

“The early outcome of this software trial, investigating the 475 registered COVID19 clinical trials related to vaccines or treatments, has delivered results that give us an indication of the power of the predictive platform in identifying the COVID19 trials, or any drug or device trial, with the greatest chance of success.

“Our approach is to use AI to not just predict the outcome, but to demonstrate that changing specific clinical trials variables can improve the probability of success.

 “Our goal is to improve the efficiency, improve the application of research funding and ultimately the return on investment for scientists, clinicians, health technology developers and investors.”

AI Platform

With hundreds of COVID19 clinical trials currently being undertaken around the globe, the company has available data for its AI platform.

The AI Platform uses current and historical global data and considers everything from the numbers of participants in each trial; the dropout rate from those trials; how long each trial will take; the end point for each trial relative to related studies, through to the mode of action such as type of protein or vector being employed in a program.

Next steps

The next stage of the platform’s development will involve increasing the data pool from additional clinical data sources and expanding the variables in order to further train the algorithm and refine the specificity and reliability.

Opyl is reaching out to those groups, such as governments and collaboration organisations that may have an interest in the findings from the COVID-19 work, as well as ongoing discussions with companies and partners on other applications of the technology.

Trading halt

Opyl shares have been granted a trading halt pending a response by Opyl to ASX queries.

The trading halt will remain in place until Opyl makes an announcement to the market or Monday, September 7, 2020, whichever is earlier.

Quick facts: Opyl Ltd

Price: 0.22 AUD

ASX:OPL
Market: ASX
Market Cap: $8.12 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Opyl Ltd named herein, including the promotion by the Company of Opyl Ltd in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: Opyl is new name of digital health track company ShareRoot

Opyl Limited (ASX:OPL) chief executive officer Michelle Gallaher updates Proactive on the renaming of the global digital health track company formerly known as ShareRoot Ltd (ASX:SRO). This heralds the company’s entry into the rapidly expanding global digital health and artificial...

on 9/12/19

3 min read