OPYL Limited, a Melbourne-based company that develops digital tools to improve healthcare, will expand is footprint internationally through a landmark joint venture with X Firm.
The partnership aims to expand the Australian company's brand presence across Europe, the Middle East, Africa and the US, while Opyl continues to focus on the Asia-Pacific market.
The joint venture will also fast track the launch of Opyl's TrialKey platform, designed to predict clinical trial outcomes and improve drug development efficiency.
"We see this technology as a true game-changer for improving performance in major pharmaceutical companies, contract research organisations, and major government and academic research laboratories," said Whit Pepper, Managing Partner of X Firm.
"The ability to predict clinical trial outcomes with industry-leading precision has the potential to significantly reduce costs, improve decision-making, and bring life-saving therapies to market faster."
The joint venture is in the process of raising A$4.7-7.8 million to fund its operations and marketing initiatives, which aim to tap into the clinical trial solutions market - globally, over 65,000 new trials commence every year.
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