Key Highlights
• AstraZeneca extends its contract for the Phase IIb trial, which is utilising SOZO® to measure fluid volume in patients with heart failure and chronic kidney disease, by 3 months.
• In addition to extending the contract, AstraZeneca has increased the number of SOZO devices required by 36, taking the total number in this trial to over 210.
• With the additional 36 devices, over 410 SOZO devices in total will be leased across 28 countries for the two ongoing AstraZeneca trials.
• The extension and expansion of the trial will generate an estimated value of over $500k in additional revenue to be recognised in coming quarters.
ImpediMed Limited (ASX.IPD), today announced a contract extension and increase of its SOZO Digital Health Platform to be used in one of the clinical trials being conducted for AstraZeneca. The Phase IIb trial is using the SOZO devices to track patient fluid volume in a pharmaceutical study focused on heart failure and chronic kidney disease. The study has been extended from 18 months to 21 months and the number of SOZO devices increased from 175 to 211.
The Company previously announced preliminary expectations for the contract as a requirement of the October 2021 Capital Raise process and has now finalised the agreement. In total, the contracts are expected to generate over $5.0 million in revenue across the trials. The Company recognised $1.8 million in revenue under these contracts in FY’21. The remainder of the revenue will be recognised throughout FY’22 and FY’23.
The Company previously announced AstraZeneca is using SOZO to track patient fluid volume in two separate clinical trials. The first is focused on heart failure and chronic kidney disease and the second only on chronic kidney disease. A combined 375 SOZO devices were to be leased across over 25 countries for both trials. In total, 411 devices will now be used across both trials, generating in excess of $5.0 million in revenue.
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