OneMedNet Partners with Leading Clinical Trial Design and Software Company in Significant Data License Agreement
OneMedNet (NASDAQ: ONMD) has entered into a significant data license agreement with a leading U.S.-based global clinical trial design and software company. This partnership will utilize OneMedNet's proprietary iRWD™ platform to securely manage regulatory-grade clinical data, including electronic health records, lab results, and medical imaging. The agreement aims to expand OneMedNet's commercial reach within the global life sciences industry and accelerate the development of new medical therapies. The collaboration is expected to generate a robust funnel of business opportunities through a referral licensing model.
- OneMedNet's iRWD™ platform will be used by a leading global clinical trial design and software company.
- The agreement should significantly expand OneMedNet's commercial reach in the global life sciences sector.
- The partnership is expected to generate numerous business opportunities through a referral licensing model.
- Collaborating with a top clinical trial design company should enhance the development of innovative medical therapies.
- The U.S.-based partner remains undisclosed, which may raise transparency concerns.
- The financial terms of the agreement are not disclosed, leaving questions on the immediate impact on revenue.
Insights
OneMedNet Corporation has made a strategic move by entering into a significant data license agreement with a prominent global leader in clinical trial design and software. This collaboration aligns with the company's market expansion strategy, aiming to leverage its iRWD™ platform to provide regulatory-grade real-world data to its new partner and their affiliates.
From a financial perspective, this agreement could be a positive indicator for investors, potentially leading to increased revenue streams. The referral licensing model suggests a robust pipeline of business opportunities, which could translate to sustained financial growth.
In the short term, investors may look forward to potential immediate revenue from initial licensing fees. In the long term, the value could be substantial, as the new partner's extensive customer base among the top 30 biopharmaceutical companies might lead to expanded use of OneMedNet’s services. However, it's important to monitor actual revenue realization from this agreement, as well as any operational costs that may arise from the expanded service requirements.
While the specific financial terms of the deal are not disclosed, the strategic nature of this partnership and the potential to tap into a new customer base could enhance OneMedNet’s financial stability and growth prospects.
This partnership between OneMedNet and a leading clinical trial design software company is noteworthy for its potential impact on the medical research field. The integration of OneMedNet’s regulatory-grade real-world data with advanced clinical trial design is expected to streamline drug development processes.
By enabling more efficient and accurate data curation, this agreement can help accelerate the development of new therapies and technologies. The combination of OneMedNet’s data capabilities with sophisticated trial design tools could reduce the time and cost associated with bringing new drugs to market.
This partnership may also enhance the quality of clinical trials by providing comprehensive, de-identified real-world data. This can lead to more robust study designs and potentially higher success rates in clinical trials. However, the real-world impact will depend on how effectively the companies can integrate their technologies and processes.
For retail investors, understanding the potential of this partnership to improve clinical trial outcomes and efficiency can offer insights into the long-term value of OneMedNet's technology and its position in the healthcare industry.
The agreement with a top clinical trial design software entity positions OneMedNet well within the competitive landscape of the real-world data market. This market is important for the life sciences industry, particularly in areas such as drug development and regulatory compliance.
OneMedNet's data curation capabilities, combined with the partner’s software, could drive market differentiation by offering a unique value proposition. This synergy could attract more clients from the biopharmaceutical sector, enhancing market penetration and customer retention.
Moreover, the strategic referral licensing model indicates a scalable business approach. It allows OneMedNet to expand its market reach without proportionally increasing operational costs. However, market competition is intense and the company's ability to maintain data privacy and security while delivering high-quality services will be critical.
Retail investors should consider the potential market growth and competitive advantages this agreement brings. However, they should also be mindful of the execution risks associated with such strategic partnerships.
Partner’s software products and services are utilized by hundreds of life science organizations, including the top 30 biopharmaceutical companies
MINNEAPOLIS, June 14, 2024 (GLOBE NEWSWIRE) -- OneMedNet Corporation (Nasdaq: ONMD) (“OneMedNet” or the “Company”), the leading curator of regulatory-grade Real World Data (“RWD”), inclusive of electronic health records, laboratory results and, uniquely, medical imaging, announced today that it has entered into a iRWD™ Customer Data License (the “Agreement”) with an undisclosed U.S.-based global leader in clinical trial design and software.
Pursuant to the Agreement, OneMedNet will utilize its proprietary iRWD™ platform to securely search, de-identify and curate current, regulatory-grade clinical data for the new customer, including its world-wide subsidiaries and affiliates, under a referral licensing model providing a robust funnel of business opportunities.
“This partnership aligns perfectly with OneMedNet’s market expansion strategy, and significantly extends our commercial reach within the global life science industry,” said Aaron Green, OneMedNet's President and CEO. “Our new partner’s recognized expertise in clinical trial design and implementation, combined with our innovative RWD platform, creates a powerful synergy that should help accelerate the development of innovative new medical therapies and technologies targeting some of the world’s greatest health challenges.”
About OneMedNet Corporation
OneMedNet provides innovative solutions that unlock the significant value contained within the Real-World Data (“RWD”) repositories of over 1,400 healthcare system and provider sites that currently comprise its iRWD™ network. OneMedNet’s proprietary iRWD™ platform provides secure, comprehensive management of a continuously expanding and diverse set of clinical data, including electronic health records, laboratory results, and uniquely, medical images. Employing its robust iRWD™ platform, the Company securely de-identifies, searches, and curates the clinical data, bringing a wealth of internal and third-party research opportunities to its drug, medical device and imaging/diagnostic AI development customers.
OneMedNet’s platform is designed to meet the clinical requirements necessary across various domains, including but not limited to rare diseases, oncology, and cardiology. The Company is committed to delivering precise and robust research support services that span the entire continuum of care. This commitment is a cornerstone of OneMedNet’s strategy to enhance patient outcomes and help pave the next wave of healthcare innovation. For more information, please visit www.onemednet.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of OneMedNet; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
OneMedNet Contacts:
Stephen Kilmer, Investor Relations
Phone: 647.872.4849
Email: stephen.kilmer@onemednet.com
Michael Wong, Director of Marketing
Phone: 800.918.7189
Email: michael.wong@onemednet.com
SOURCE: ONEMEDNET CORPORATION
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