CardieX Limited announce that CardieX subsidiary, ATCOR, has entered into a new global Clinical Trial Services Agreement ("the Agreement") for both the ATCOR XCEL devices and the provision of data management services for a new global clinical trial ("the Trial"). ATCOR's XCEL device will be used in all phases of the global clinical trial for the determination of clinically relevant arterial health outcomes based on patented SphygmoCor® digital vascular biomarkers for the assessment of arterial health. The trial will last for approximately 30 months.

Key details of the signed Agreement include: ATCOR to provide XCEL devices and the provision of data management services to a major global clinical trial equipment procurement & logistics manager, in this case CliniChain BV (the "Procurement Partner") for the Trial. Under the agreement the Procurement Partner will provide the equipment procurement function for the Trial, and has specified the use of the ATCOR XCEL devices for the length of the trial. ATCOR received on signing of the Agreement it's second purchase order from the procurement partner.

The first order, for Trial initiation, was received prior to signing the Agreement. The Agreement is significant to the ATCOR core business in that the total revenue to be received over the length of trial is anticipated to be twice the FY22 revenues for the entire business. Whilst the revenue attribution across the trial's duration is yet to be determined, approximately 40% of the cashflow from the trial is expected to be received in fiscal year 2023, and the balance to be received over the rest of the trials expected duration of ~30 months.

The Trial is currently scheduled to be across multiple global sites. Invoices are to be paid to ATCOR by the Procurement Partner on a net thirty (30) days basis and there are no material termination clauses in relation to the Agreement.