Empower Clinics Signs New Agreements To Advance Growth Of Research and Clinical Trials with Signing Of Two Additional Principal Investigators – And Are Approved To Process Multiple Clinical Study Applications From Pharmaceutical Sponsors
Multiple Research Studies Are In Official Application Stage For EPW Curesearch Sites Covering Numerous Protocols And Specialties
VANCOUVER, B.C.: July 31, 2023 – EMPOWER CLINICS INC (CSE:EPW) (OTCQB:EPWCF) (“Empower” or the “Company“) a healthcare company with a developing research and clinical trials division is pleased to announce that its subsidiary EPW Curesearch LLC (“EPWC”) has signed new agreements for additional pharmaceutical research and clinical trials medical doctors with an established pain management practice and includes two experienced principal investigators.
In addition, the Company announces EPWC sites and principal investigators (PI’s) are officially in application stage for multiple study protocols for diseases that include Alzheimer’s, Autoimmune Disorders, Chronic Obstructive Pulmonary Disease (COPD), Rheumatoid Arthritis (RA), Lupus and Diabetes, as the current priorities.
“Reaching an official application stage with pharmaceutical sponsors and CRO’s is a significant milestone considering what it takes to get there.” Stated Steven McAuley, Chairman & CEO of Empower Clinics Inc. “Big pharma and the CRO’s have a rigorous vetting system that will not allow full access to the study protocol until specific conditions have been met that are unique to each prospective clinical trial.”
FIRST SITE IN DALLAS, TEXAS IDENTIFIES NUMEROUS ELIGIBLE PATIENTS
The initial medical site with four (4) PI’s has identified in excess of 1,100 patients from their existing patient roster that may meet the eligibility criteria for the nine (9) current applications under review.
“The process of matching new clinical trials to potential patients is key and fundamental to all studies and new drugs that come to market. Our ability to drive this process with our sites, PI’s and the roster of patients has the potential to positively influence healthcare outcomes in the future, its what pharmaceutical investment is all about.” Stated Steven McAuley. “The impact on the Empower business model is meaningful and significant as our site and PI applications are approved and get underway.”
PARTNERSHIP WITH SPECIALIST MEDICAL GROUPS – DALLAS, TEXAS
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 industries.
● SMO will provide oversight, direction and support to the PI’s and their patients.
● 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 closed.
Steven McAuley comments, “I have previously stated that these new agreements with PI’s bring growth and new anticipated revenue and cash flow in 2023, my position remains the same.” Mr. McAuley further states, “Our path forward has always been dependent on progress and change management, an adaptable approach to ongoing stability and growth.”
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
Empower is an integrated healthcare company with multi-disciplinary clinics, a Canadian medical device company and has launched its first clinical research site becoming a Site Management Organization (SMO) in Dallas, TX. Empower is a leader in integrated healthcare and research solutions and is reshaping the model for patient-first wellness.
ON BEHALF OF THE BOARD OF DIRECTORS:
Chief Executive Officer