ASX Health Stocks: Singular Health shoots 60pc through the roof after breakthrough deal in US
Health & Biotech
Health & Biotech
Singular Health Group (ASX:SHG) skyrocketed by 60% this morning after securing a purchase order for 3Dicom licences from Roseman University of Health Sciences in Las Vegas, Nevada.
The two-year contract includes a purchase order for 50 3Dicom R&D licences and 5,000 3Dicom Patient licences, for total value of approximately $152,000.
The platforms are to be used for college students and patients treated at Roseman University’s medical school.
While the $152k contract is not huge, the purchase means that Roseman University has become the first US College to adopt Singular’s 3Dicom R&D software as a medical education tool, in a market forecast to be worth USD$17.6 billion by 2027.
With the ability to view thousands of previous medical cases in 2D and 3D from open-source DICOM libraries, students at Roseman University will now be able to explore and learn complex anatomy and pathology using SHG’s software.
The purchase order today is on the back of recent purchase orders from Saudi Arabia’s Majmaah University announced in December.
Singular also announced that it has commenced works to deploy a number of non-diagnostic artificial intelligence (AI) models into the 3Dicom R&D software.
This will enable the rapid segmentation of CT and MRI models into a collection of individual anatomical structures that can be selected, added, removed, replaced, and quantitatively analysed by users.
Proteomics International (ASX:PIQ) said its novel PromarkerEndo blood test for endometriosis has been clinically validated in an independent patient group.
The results are being presented at the 29th Annual Lorne Proteomics Symposium, the annual conference of the Australasian Proteomics Society, held between 31 January – 3 February.
“The results presented at the conference are compelling, and further strengthen the diagnostic performance of PromarkerEndo,” said PIQ’s CEO, Dr Richard Lipscombe.
Endometriosis affects an estimated one in seven women and girls in Australia, often causing pain and infertility, with diagnosis currently taking an average of 7.5 years.
Separately, PIQ will also present the results from its novel PromarkerEso blood test for oesophageal adenocarcinoma, a condition that affects 1-2% of adults and can arise from chronic acid reflux.
Meanwhile there were a couple of announcements from ASX cannabis stocks this morning.
ECS Botanics (ASX:ECS) has secured a $9 million offtake agreement with UK-based Rokshaw for supply of medicinal cannabis dried flower over three years.
The supply will commence this financial year with a minimum order volume of 600kg per annum. ECS has also granted Rokshaw a UK market exclusivity of three strains of GMP medicinal cannabis dried flower.
Little Green Pharma (ASX:LGP) surged 12% after announcing the receipt of a $5 million research and development (R&D) rebate from the Australian Tax Office.
The R&D rebate is the largest R&D rebate amount LGP has claimed to date, and reflects the significant R&D expenditure LGP has invested in FY23.