MINNEAPOLIS, July 22, 2024 (GLOBE NEWSWIRE) -- Further to its press release dated June 14, 2024, 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 Cytel Inc, (“Cytel”), a global leader in clinical trial design and software, has now identified itself as the other party with which OneMedNet recently entered into a iRWD™ Customer Data License (the “Agreement”).
Pursuant to the Agreement, OneMedNet is utilizing its proprietary iRWD™ network and platform, comprised of over 121 million clinical exams from more than 31 million patients at over 1,400 healthcare system and provider sites, to securely search, de-identify and curate current, regulatory-grade clinical data for Cytel. Combining OneMedNet’s unrivalled RWD repository with Cytel’s advanced analytics capabilities will enable customers in the biotech and pharma sectors to access ONMD’s data via Cytel’s popular Fit For Purpose Data Tool, fostering innovation in trial design, observational studies, and development of AI/ML models. The combined clinical and imaging data is specifically tailored to meet the analytics needs of sponsors across multiple therapeutic areas including neurologic disorders, oncology, and cardiology.
In a statement, Massoud Toussi, Cytel’s Vice President, Global Head of Real-World Evidence, said “As a human data science company, we’re thrilled to announce our strategic partnership with OneMedNet. Their unique access to data from imaging devices, combined with their innovative iRWD platform for collecting additional clinical data, aligns perfectly with our mission. This collaboration will empower us to deliver additional valuable solutions to our clients and drive meaningful impact in our industry.”
“This partnership aligns perfectly with OneMedNet’s market expansion strategy, and significantly extends our commercial reach within the global life science industry,” reiterated Aaron Green, OneMedNet's President and CEO. “Cytel’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 Cytel Inc.
Cytel is the largest provider of statistical software and advanced analytics for clinical trial design and execution. For over thirty-five years, Cytel’s scientific rigor and operational excellence have enabled biotech and pharmaceutical companies to navigate uncertainty, prove value and make confident, evidence-based decisions. Its experts deliver industry-leading software, data-driven analytics, real-world evidence, and strategic consulting. Headquartered in Waltham, Massachusetts, Cytel has more than 1,900 resources across North America, Europe, and Asia. For more information about Cytel, please visit us at www.cytel.com.
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
