Onco-Innovations subsidiary to lead data analytics project with OneMedNet

VANCOUVER - Onco-Innovations Limited (CBOE CA:ONCO) announced Thursday that its subsidiary, Inka Health Corp., has been selected by OneMedNet Corporation (NASDAQ:ONMD) to lead a data analytics initiative focused on improving cancer therapy development. OneMedNet, with a market capitalization of $17.82 million and currently rated as having weak financial health according to InvestingPro analysis, has seen its shares decline over 67% in the past year.

The project aims to leverage OneMedNet’s regulatory-grade patient data to develop external control arms (ECAs) as an alternative to traditional clinical trials. Inka Health will deploy its SynoGraph platform, combining machine learning with causal inference methods, to build and validate an ECA for the Keynote-189 trial of pembrolizumab in non-small cell lung cancer. This initiative comes as OneMedNet reports last twelve-month revenues of $0.53 million and an EBITDA of -$9.67 million.

"We selected Inka Health for this initiative because their methodological approach aligns perfectly with our vision for high-quality evidence generation," said Aaron Green, President & CEO of OneMedNet, according to the press release.

The initial focus will be on non-small cell lung cancer (NSCLC), with the collaboration expected to result in a scientific abstract for submission to ISPOR Europe 2025.

Paul Arora, Co-Founder of Inka Health, stated, "This collaboration is about more than applying advanced analytics to oncology data. It’s about reshaping how we generate credible evidence for regulatory and reimbursement decisions using real-world patients, not just trial participants."

The initiative provides both organizations with exposure to the Real-World Evidence market, which is projected to exceed $4.6 billion globally by 2030, according to information provided in the company’s statement. InvestingPro analysis reveals several key metrics and insights about OneMedNet’s financial position, with 11 additional ProTips available to subscribers, including detailed analysis of the company’s cash flow and market position.

The multi-phase project aims to demonstrate how OneMedNet’s oncology dataset can potentially replicate traditional clinical trial results with reduced time, cost, and complexity, potentially accelerating market entry for new cancer therapies.

In other recent news, OneMedNet Corporation has significantly expanded its real-world data network, now encompassing over 121 million clinical exams. This expansion was achieved through partnerships with more than 1,400 hospital and healthcare provider sites. The company has also collaborated with major data marketplaces such as Amazon Data Exchange, Protege AI, Bayer Data Marketplace, Datavant, and HealthVerity, broadening its reach within the healthcare data ecosystem. Additionally, OneMedNet has raised approximately $3.7 million in gross proceeds through private placement transactions at $0.42 per share. The transactions included participation from some of the company’s founders and directors. This fundraising effort met Nasdaq’s minimum price requirements. These developments highlight OneMedNet’s ongoing efforts to enhance its data repository and financial standing.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.