ASX Biotech Stocks: HitIQ nabs landmark deal with Premier League for its concussion management tech
Health & Biotech
Health & Biotech
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Concussion management company HitIQ (ASX:HIQ) has announced a landmark two-year software licence agreement with the Premier League to provide concussion assessment technology.
The agreement will cover players across all 20 teams and associated academies, with all head injury incidents to be digitally recorded within the CSX platform – which allows for the head injury protocols to be administered through a centralised and secure platform.
The agreement also includes the provision of 100 HitIQ Nexus instrumented mouthguards, which will be used to quantify and improve the understanding of the head impact forces sustained by players.
“With awareness of concussions in football growing, the Premier League have taken proactive measures to better manage these incidents through our leading platform,” CEO Mike Vegar said.
“We are excited to see the technology grow in stature within the football market.”
HitIQ says the revenue to be generated under the agreement on an annual basis represents approximately 5% to 10% of total operating revenues reported for the year ended 30 June 2022.
The medical device manufacturer has been granted two patents by US Patent and Trademark Office covering hearing device configuration and accessory technologies.
This comes just days after the company secured historic clearance from the FDA for its over-the-counter hearing aid.
Chief product officer Dr Alan Davis said the US market is an important and attractive geographical market for the company.
“The granting of these two patents in the US will help protect the company’s innovations in that market, as the market now opens for our self-fit hearing aids,” he said.
“We will continue to file patents and increase our patent portfolio in the US and other markets as we work to push the barriers of unassisted hearing technologies.”
The Phase 1 Safety Review Committee (SRC) has approved the company to progress to the second escalated dose cohort for its stroke drug ARG-007.
Following an extensive review of data from the first cohort of participants, including blood pressure, vital signs, neurological examinations, haematology, and adverse events, the SRC determined that there were no clinically relevant abnormal results – so the trial can progress to the next dose escalated cohort.
The cell therapeutics company says the Leiden University Medical Center (LUMC) in the Netherlands will be funding a clinical trial to investigate Cynata’s Cymerus mesenchymal stem cells (MSCs) as a treatment for renal graft rejection and to potentially reduce the requirement for anti-rejection drugs in patients who have received a kidney transplant.
There are approximately 130,000 kidney transplants around the world each year, and currently, lifelong immune suppressive therapy is required to reduce the risk of rejection, which can lead to increased risk of infections and cancer. Plus, the main anti-rejection drugs are also directly toxic to the kidneys.
In previous clinical trials, mesenchymal stromal/stem cells have shown potential to enable the early withdrawal of anti-rejection drugs in renal transplant recipients without increased rejection and with preserved renal function.
The trial is expected to commence in 2023, pending receipt of customary and relevant regulatory, ethics and administrative approvals.
Cynata will supply the Cymerus MSCs at its cost to facilitate the trial and has full commercial rights.
AdAlta says it’s made “substantial progress” expanding the potential disease areas (indications) and routes of delivery for its AD-214 antifibrotic.
Applications of AD-214 now include lung, kidney and eye fibrosis, and cancer, all major areas of unmet need with substantial commercial interest.
“Taking into account the unmet needs in each disease area that AD-214 may address, levels of competition and the time and cost to develop each product option from here, we have elected to focus our own AD-214 efforts on injectable delivery for use in lung, kidney or eye fibrosis,” CEO and MD Dr Tim Oldham said.
“We have secured manufacturing and toxicology bookings to prepare us for the next clinical trial in 2024.
“Other disease areas and routes of administration, including the inhaled version of AD-214 remain options available to future partners that can be progressed at low cost to AdAlta.”
The cannabis company has received firm commitments for a $4 million placement and launched a $2 million Share Purchase Plan at $0.20 per ordinary share with free- attaching 1 for 1 option exercisable at $0.25.
The funds will be used for operational expenses and accelerating European and Australian sales, with LGP wholly focused on achieving breakeven and ultimately delivering profitable sales, including by delivering into new and existing European supply agreements and driving increased sales in Australia.