Opyl’s TrialKey Platform to be Used as Exclusive Agent in Tracking Success Of Clinical Biotech Trials

Opyl (ASX: OPL) has signed a services agreement with UK-based Innovatrix Capital formalising commercial terms for Opyl’s proprietary platform TrialKey to act as an exclusive calculation agent in Innovatrix’s clinical trial failure insurance products.

TrialKey is an AI-powered decision support tool that predicts the probability of success for clinical trials and helps sponsors optimise trial design and planning.

Under the terms, TrialKey will deliver probability of success (PoS) estimates at key stages of a clinical trial, directly supporting Innovatrix’s underwriting, pricing and claims functions.

Major Milestone

Opyl sees the agreement as a major commercial and technical milestone that brings into full operational mode the strategic partnership the two companies launched in June.

Innovatrix will embed TrialKey’s outputs into its client portal and co-market them to a global audience of pharmaceutical sponsors and capital providers.

Ongoing service delivery will provide Opyl with access to new and diverse clinical trial datasets and a valuable user feedback loop to further refine and enhance the platform’s predictive models.

Multiple Benefits

Opyl executive chair Saurabh Jain said the agreement had multiple benefits for the company.

“It confirms a commercial pathway for TrialKey in the insurance sector and provides us with a continuous stream of high-quality clinical trial data and direct user feedback,” he said.

“This is critical for accelerating the training of our AI models, improving predictive accuracy and opening new potential opportunities in AI-powered drug discovery and repurposing.”

Mr Jain said partnering with Innovatrix placed TrialKey at the centre of a new, global risk-transfer solution that could help reduce trial failures and improve outcomes across the life sciences industry.

Biotech Trials

The global biotech sector was worth approximately US$1.55 trillion in 2023, and analysts project it to grow annually at a compound rate of 14% through to 2030.

Each year, around US$80 billion is spent worldwide on the initiation of 65,000 clinical biotech trials and approximately 90% of these will fail, mainly due to poor trial design.

“The combination of Innovatrix’s actuarial expertise with TrialKey’s advanced AI is expected to create a new risk-transfer product for this large and underserved market,” Mr Jain said.