MediBio reports on US interest

Company News

Sydney-based Medibio (ASX: MEB) has updated investors on the company's recent US visit.

The trip was primarily focussed on undertaking a series of meetings with corporates, which had expressed an interest in partnering with Medibio, and to discuss research collaborations with a number of leading US Universities.

Medibio is developing its Circadian Heart Rate Variability technology as a depression test, having recently processed the first participant for a first pivotal study being conducted by the University of New South Wales and the Black Dog institute.

Medibio confirmed that it has Non-Disclosure Agreements (NDA’s) with four significant US based corporates and is likely to execute additional NDA’s in the coming weeks.

"These corporates cover a spectrum of device manufacturers, integrated health and wellness providers, and technology companies," it said, noting that while negotiations are at an early stage the company is excited by the early discussions and "confident" they will "crystalise" at least one of these opportunities.

The company also reported on a series of meetings with a number of leading universities in the US and Canada.

"All the Institutions visited have expressed their desire to collaborate with Medibio on research," it said.

According to MediBio, the research will focus not just on depression but other mental health disorders including Post Traumatic Stress Disorder, Anxiety Disorder, mixed depression and anxiety, and Panic Disorder.

The company also confirmed that one US brokerage house has commenced coverage of Medibio with an initial research report released.