EMPOWER CLINICS ANNOUNCES AWARD OF FIRST CLINICAL TRIAL FROM GLOBAL FORTUNE 500 PHARMACEUTICAL COMPANY AND PROVIDES CORPORATE UPDATE
VANCOUVER, B.C.: SEPTEMBER 25, 2023 – EMPOWER CLINICS INC (CSE:EPW)
(PINK:EPWCF) (“Empower” or the “Company“) a healthcare company with a developing research and clinical trials division announces its subsidiary EPW Curesearch LLC (“EPWC”) has been awarded its first clinical trial from a major European pharmaceutical company with a market cap over $100 Billion, who is conducting numerous global clinical trials that are impacting future healthcare outcomes.
The Company previously announced on July 31, 2023 that it had numerous study applications underway covering a variety of disease states. The Company can confirm the awarded clinical trial is focused on Chronic Obstructive Pulmonary Disease (COPD), and is being led by one of our senior and most experienced principal investigators (PI)’s.
Together, the Company, our PI and the sponsor have established preliminary patient recruitment targets of 20-35 patients sourced mainly from the current roster of patients. The recruitment window is anticipated to remain open through mid 2024 with possible extensions allowed, and each patient’s involvement lasting fifty-two (52) weeks plus an additional twenty
(20) weeks of follow up. The sponsor has put no limits on the maximum allowable patients per site for the trial that enables EPWC to recruit additional patients from outside sources such as other medical centers, hospitals and social recruitment channels including Facebook, Instagram, Twitter and other marketing methods.
“We are all ecstatic to receive our first awarded clinical trial, that is a result of consistent and persistent effort over the past number of months. Our focus on partnering with large established medical centers and very experienced medical doctors has proven successful.” stated Steven McAuley, Chairman & CEO. “We continue to process multiple trial applications on behalf of our six (6) current PI’s, and as such anticipate additional sponsor due diligence, site visits and awards.”
PARTNERSHIP WITH SPECIALIST MEDICAL GROUPS
PI’s are practicing medical doctors who are specialists or internists with previous research and clinical trials experience. As such, they are integral to the success of any Site Management Organization (SMO) as follows:
- SMO leverages the medical practice of the PI’s and their patient rosters to generate new participants in active clinical trials and research, which in turn commences meaningful revenues from the Biotech and Pharmaceutical
- SMO will provide oversight, direction and support to the PI’s and their
- SMO will also act as a liaison between the pharmaceutical company and the assigned Contract Research Organization (CRO).
- Target trials typically span one to two years in length and can be extended if the trial has not yet gathered enough data or has not been
CEASE TRADE ORDER AND ACCOUNTING AND AUDIT STATUS
The Company previously announced a Cease Trade Order effective August 15th, 2023 which remains in effect. Various audit and accounting procedures continue, and numerous technicaldecisions are being contemplated that may provide areas of audit simplification based on outcomes and Board recommendations. The Company is not in a position at this time to provide a firm commitment on expected completion of filings and resumption of trading. The Company anticipates it will provide regular updates in the future.
THE MARKET OPPORTUNITY IS SIGNIFICANT
The CRO Services Market in terms of revenue was estimated to be worth $76.6 billion in 2023 and is poised to reach $127.3 billion by 2028, growing at a CAGR of 10.7% from 2023 to 2028 according to a new report by MarketsandMarkets.1 Factors such as continuously growing pharmaceutical, biotechnology and medical device R&D pipelines and technological advancements in the clinical trials process are driving the growth of this market. In recent years, the costs associated with drug and product development have increased significantly, driving pharma, biotech and medical device companies to look for partnerships to drive modernizations and smarter ways of conducting business.
This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions, and engagement with management https://agoracom.com/ir/EmpowerClinics
To get enhanced access to investor information about Empower Clinics, please visit the download page to get your Empower Clinics Investor Experience Wallet Pass today.
ABOUT EMPOWER:
Empower is a patient-focused healthcare company operating with the goal of positively impacting lives and future healthcare outcomes through clinical trials. The Company has launched two clinical research sites becoming a Site Management Organization (SMO) with six principal investigators (PI) with multiple clinical trials under application. Empower has announced its intention to create a proposed spinout with a focus on healthcare AI to support identification, recruitment, and onboarding of clinical trial patients.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley
Chief Executive Officer
CONTACTS:
Media:
Steven McAuley CEO s.mcauley@empowerclinics.com
+1 604-789-2146
1 Markets and markets report March 2021 https://www.marketsandmarkets.com/Market-Reports/contract-research- organization-service-market-167410116.html reviewed February 6, 2023
Investors:
Tamara Mason
Business Development & Communications t.mason@empowerclinics.com
+1 416-671-5617
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward- looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include statements regarding the Company will be able to reach patient recruitment targets of 25-35 patients within the recruitment window if at all; that the Company will successfully recruit additional patients from other medical centers of other marketing channels including social media campaigns. Such forward-looking statements are based on assumptions known to management at this time and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including that the Financing may not be completed on the terms expected or at all, and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.