Australian digital health company Medibio Limited ASX: MEB) has signed a five-year Master Clinical Trial Agreement with the prestigious Mayo Clinic in the USA.
Medibio, which has developed an objective testing system to assist in the screening, diagnosing, monitoring and management of depression and other mental health disorders, says the agreement provides for the conduct of multiple clinical trials involving the use of one or more of Medibio’s proprietary products as well as assist in development of future products.
“We are excited to sign our second agreement with Mayo Clinic and to move forward jointly on clinical trials to further expand our technology into additional areas of mental health,” Medibio’s CEO and Managing Director, Jack Cosentino, said.
“The clinical trials expected to come from this agreement will further solidify Medibio’s research and approach on effectively screening, as well as differentiating types of mental illness, and monitoring drug therapy effectiveness and adherance for mental health patients.
“The Mayo Clinic provides world-renowned Psychiatry and Psychology services and is an innovator and leader in creating unique solutions that have become standard of care used by clinicians throughout the world.”
Mr Cosentino said mental health represents a major global clinical problem today with an estimated 350M people word-wide suffering from depression and is the leading cause of disability in the U.S.
He said that given the subjective nature of the clinical assessments, less than 10% of patients receive optimal therapy following initial assessments.
Under the agreement, Medibio and Mayo Clinic intend to conduct clinical studies for new product solutions to assist physicians in objectively addressing psychiatric conditions while also improving the quality, outcomes and costs associated with patient care.