Key Highlights
* AstraZeneca extends its second contract for a Phase IIb trial, which is utilising SOZO® to measure fluid volume in patients with chronic kidney disease, by 3 months.
* In addition to extending the contract, AstraZeneca has increased the number of SOZO devices required by 23, taking the total number in this trial to 223.
* The extension and expansion of this trial will generate an estimated value of over $500k in additional revenue to be recognised in coming quarters.
* In total, over $5.5 million in contract value has been signed under the various AstraZeneca trial agreements, with just over $2.0 million remaining to be recognised in the coming quarters.
* The Company anticipates a range of 250-350 SOZO devices will remain under active contracts over the balance of the trials, as sites begin to complete their portion of testing.
ImpediMed Limited (ASX.IPD), today announced the second contract extension and expansion of its SOZO Digital Health Platform used in clinical trials being conducted for AstraZeneca. The Phase II trial will use the SOZO devices to track patient fluid volume in an upcoming pharmaceutical study focused on chronic kidney disease. The study has been extended from 18 months to 21 months and the number of SOZO devices increased from 200 to 223.
In total, the contracts are expected to generate over $5.5 million in revenue across the trials. The Company recognised approximately $3.5 million in revenue under these contracts through 31 December 2021. The remainder of the revenue will be recognised throughout the second half of FY’22 and first half of 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 434 SOZO devices have been leased across over 28 countries for both trials.
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