Compumedics (ASX:CMP) has announced it has secured multiple Somfit sales to pharmaceutical and clinical research organisations across the US and Europe, with combined revenues from these initial transactions now approaching $2 million.
Compumedics is a medical device company specialising in sleep, brain, and ultrasonic blood flow monitoring. Somfit is a wearable device for collecting physiological data, primarily for use in assisting medical professionals to diagnose sleep disorders.
The company said the first transaction was secured with one of the world’s leading pharmaceutical Contract Research Organisations (CROs) for use in a major US-based clinical drug trial with one of the world’s largest pharmaceutical companies. The second was with Orion Pharma, a global pharmaceutical company headquartered in Finland, for the deployment of Somfit devices across a multi-country, multi-centre clinical study in Europe.
Compumedics Executive Chairman and CEO Dr David Burton said, “These recent sales wins highlight the growing momentum we’re seeing for Somfit in new market segments. The pharmaceutical clinical trial market is an ideal adjacency for our technology, and these early contracts, approaching $2 million in combined value, demonstrate Somfit’s versatility beyond traditional home sleep testing. This is another important step in building a diversified global business with multiple high growth pathways.”