ASX Health Stocks: Pro Medicus bags $32m deal, Kazia shows promise in child cancer drug
Health & Biotech
Health & Biotech
Health imaging company ProMedicus (ASX:PME) has struck a significant deal with Inova Health System, the leading nonprofit healthcare provider in Northern Virginia, US.
The 8-year $32m deal was signed by PME’s US subsidiary, Visage Imaging.
Under the deal, the Visage 7 Enterprise imaging platform will be implemented throughout Inova and Fairfax Radiology, providing a unified diagnostic imaging platform across both networks.
Planning for the rollout is to commence immediately, with initial go-lives targeted for the second half of the calendar year.
Inova has more than 20,000+ team members who provide more than two million patient visits each year.
The non-profit has an integrated network of hospitals, primary and specialty care practices, emergency and urgent care centere, and outpatient services.
“This is our fourth major contract in the IDN (integrated delivery network) space in less than 18 months,” commented Dr Sam Hupert, Pro Medicus CEO.
“It will further underpin the strong momentum we continue to build, not only in this segment of the market but also the North American market as a whole,” he added.
Oncology company Kazia Therapeutics (ASX:KZA) has announced new preclinical data demonstrating the activity of paxalisib in two forms of childhood brain cancer.
Scientists working in the laboratory of Assistant Professor Jeffrey Rubens at Johns Hopkins University in Baltimore have described the use of paxalisib as a backbone therapy in a childhood brain cancer known as atypical teratoid / rhabdoid tumours (AT/RT).
AT/RT is a rare brain cancer that predominantly affects infants and young children. There are no FDA approved drugs for AT/RT, and existing therapeutic options are very limited.
Data from this study shows that the enzyme PI3K is commonly activated in patients with AT/RT, and treatment with paxalisib alone could be effective in preclinical models of the disease.
Moreover, the study shows that combination with either RG2822, an HDAC inhibitor, or TAK580, a MAPK inhibitor, appears to substantially extend survival when compared to monotherapy treatment.