Trellus Health PLC (AIM:TRLS) shares traded up on Wednesday after it announced the signing of a new 12-month contract with one of the world’s largest clinical research organisations to support participant recruitment and enrolment for a mid-stage immunology and inflammation trial.
The contract is slated to start later this year, and the news follows the company’s recent confirmation that it was in advanced talks.
It will include an upfront payment, monthly management fees and milestone payments tied to three key performance indicators.
“We are proud to launch Trellus TrialSet to directly address these issues by proactively assessing and preparing participants, ensuring only those who are ready will enter the trial," said chief executive Dr Marla Dubinsky.
She added that the partnership “reflects our ability to secure contracts with leading CROs and represents an important step in building commercial traction.”
In London, the share was up 15% changing hands at 0.75p.