OneMedNet Announces Strategic Alliance with Cytel to Enhance Real-World Data Solutions
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Cytel Unveiled as OneMedNet's Newest Alliance Partner
, (GLOBE NEWSWIRE) -- Further to its press release dated , (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"), a global leader in clinical trial design and software, has now identified itself as the other party with which recently entered into a iRWDâ„¢ Customer Data License (the "Agreement"). Pursuant to the Agreement, is utilizing its proprietary iRWDâ„¢ 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 . 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, , 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 . 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 , 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 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 , has more than 1,900 resources across , , and . For more information about , please visit us at www.cytel.com. About 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 iRWDâ„¢ network. OneMedNet's proprietary iRWDâ„¢ 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 iRWDâ„¢ 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 ; 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.
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Cytel Unveiled as OneMedNet's Newest Alliance Partner - OneMedNet (NASDAQ:ONMD)
MINNEAPOLIS, July 22, 2024 (GLOBE NEWSWIRE) -- Further to its press release dated June 14, 2024, OneMedNet Corporation 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 iRWDâ„¢ Customer Data License (the "Agreement"). Pursuant to the Agreement, OneMedNet is utilizing its proprietary iRWDâ„¢ 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 iRWDâ„¢ network. OneMedNet's proprietary iRWDâ„¢ 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 iRWDâ„¢ 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: [email protected] Michael Wong, Director of Marketing Phone: 800.918.7189 Email: [email protected] SOURCE: ONEMEDNET CORPORATION Market News and Data brought to you by Benzinga APIs
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OneMedNet Corporation, a leading provider of real-world data solutions, has formed a strategic partnership with Cytel Inc., a pioneer in advanced analytics and software for clinical trials. This collaboration aims to revolutionize the use of real-world data in clinical research and development.
OneMedNet and Cytel Join Forces
OneMedNet Corporation, a prominent player in the real-world data (RWD) solutions sector, has announced a strategic alliance with Cytel Inc., a renowned expert in advanced analytics and software for clinical trials
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. This partnership marks a significant step forward in the integration of real-world data into clinical research and development processes.Enhancing Real-World Data Solutions
The collaboration between OneMedNet and Cytel is set to revolutionize the utilization of real-world data in the healthcare industry. OneMedNet's innovative BEAM® software platform, which provides access to regulatory-grade, de-identified clinical data, will be complemented by Cytel's expertise in advanced analytics and trial design
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.Expanding Market Reach
This strategic alliance is expected to broaden the market reach for both companies. OneMedNet's extensive network of health systems and imaging centers will now have access to Cytel's advanced analytics capabilities. Conversely, Cytel's global clientele in the biopharmaceutical and medical device industries will benefit from OneMedNet's comprehensive real-world data resources
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.Accelerating Drug Development
The partnership aims to accelerate drug development processes by leveraging real-world data more effectively. By combining OneMedNet's vast repository of clinical data with Cytel's sophisticated analytics tools, researchers and pharmaceutical companies can gain deeper insights into treatment efficacy, patient outcomes, and potential areas for innovation
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.Leadership Perspectives
Paul Casey, Chief Executive Officer of OneMedNet, expressed enthusiasm about the partnership, stating that it would "drive innovation and advance healthcare outcomes." Joshua Schultz, Chief Executive Officer of Cytel, echoed this sentiment, emphasizing the potential of the alliance to "unlock the full potential of real-world data in clinical research"
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Impact on Clinical Trials
The collaboration is expected to have a significant impact on clinical trial design and execution. By incorporating real-world data more effectively, researchers can potentially reduce trial durations, lower costs, and improve the overall efficiency of the drug development process
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.Future Prospects
As the healthcare industry continues to embrace data-driven approaches, partnerships like the one between OneMedNet and Cytel are likely to become increasingly common. This alliance sets a precedent for how companies can collaborate to harness the power of real-world data and advanced analytics in pursuit of better healthcare outcomes and more efficient drug development processes
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