CONNEQT Health locks in new clinical trial deal with US biotech

• CONNEQT Health signs $1.1m deal to supply US clinical trial
• 30 SphygmoCor XCEL and 60 Oscar 2 ABPM systems to be rolled out across 30 US sites over nine months
• CQT building momentum after hitting $5m annualised sales runrate for Pulse arterial heart monitor in September

Special Report: CONNEQT Health is continuing to strengthen its presence in the US cardiovascular health market after being awarded a new Phase 2b clinical trial contract.

The company’s latest agreement is with a privately owned American biopharmaceutical company developing treatments for hypertension and other serious cardiovascular diseases.

Under the US$716,000 (A$1.1 million) deal, CONNEQT Health (ASX:CQT) will supply 30 of its SphygmoCor® XCEL and 60 Oscar 2 ABPM systems alongside setup, training, support and data management services.

The nine-month trial is set to start this quarter across 30 sites in the US. Revenue from the contract will be recognised progressively over the course of the study.

The trial is designed to evaluate innovative hypertension therapies using CONNEQT’s proprietary non-invasive vascular biomarker technology to ensure high-quality data integrity and endpoint reliability.

CONNEQT Health CEO Craig Cooper said: “This new US trial contract represents another important milestone in expanding our clinical and pharmaceutical partnerships.

“It showcases the confidence biopharma leaders are placing in our technology to deliver the precision and scalability required for next-generation cardiovascular studies.”

The new contract follows strong momentum in the company’s commercial rollout of its CONNEQT Pulse arterial health monitor, with Pulse sales surging more than 50 per cent quarter-on-quarter this year through to September.

Having only launched in January, the firm declared September sales hitting an annualised runrate of $5m.

This article was developed in collaboration with CONNEQT, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.