Opyl Limited (ASX: OPL) has announced a new agreement with Biointelect, a leading Clinical Research Organisation (CRO) and strategic planning and commercialisation advisory firm for the life science sector.
This collaboration will see Biointelect leveraging Opyl’s TrialKey platform, a global leader in data-driven biostatistical validation, to optimise clinical trial outcomes and strategies through the analysis of extensive clinical datasets.
Key Highlights:
- Agreement Signed: A six-month agreement between Opyl and Biointelect to provide advanced clinical trial design and predictive analytics through the TrialKey platform.
- Service Fee: Biointelect will engage Opyl for trial design services at a fee of $5,000 per trial.
- Market Impact: The partnership aims to further enhance Biointelect’s clinical trial design capabilities, utilising TrialKey’s vast data-driven insights to support more informed product development pathways.
About the Agreement:
Under this agreement, BioIntelect will utilise the TrialKey platform to access detailed trial design insights, success rate predictions, and strategic recommendations. TrialKey's AI-driven analysis enables the generation of optimised clinical trial designs, drawing on a robust dataset to deliver reliable recommendations tailored to each project’s needs.
Detailed Terms:
Opyl will provide BioIntelect with data-backed, optimised trial designs and success predictions using TrialKey’s biostatistical validation tools. BioIntelect will pay a fixed fee of $5,000 per trial design project, with payment due within 30 days after the trial receives funding. BioIntelect will retain ownership of all contract materials and intellectual property created during the partnership, while Opyl will maintain a non-exclusive licence to use its background IP. This is a non-exclusive agreement, enabling both parties to pursue similar opportunities with other clients. Either party may terminate the agreement if specific conditions, such as insolvency or breach of material terms, are met. Both parties have agreed to strict confidentiality protocols in compliance with privacy laws to protect sensitive information.
"We are excited to partner with Biointelect, a key player in life sciences consulting. By deploying TrialKey’s industry-leading data-driven analytics, we aim to transform clinical trial designs, ultimately boosting the probability of success for Biointelect's clients,” Saurabh Jain, Executive Chairman of Opyl, said.
Looking Ahead:
Since February, BioIntelect have already been awarded two projects, with the first to start by Q3 2024, and the second trial expected to commence in Q1 2025. BioIntelect’s CRO team consists of highly experienced experts in the pharmaceutical and biotech industries, ensuring that the firm is well-positioned to deliver high-quality clinical trials. Moving forward, Opyl will collaborate with BioIntelect on future proposals, ensuring TrialKey’s advanced analytics are part of their upcoming clinical trial designs.
