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Algorae Pharmaceuticals Limited (ASX:1AI)

ALERT: Price-sensitive ASX Announcement for 1AI
Current share price for 1AI : $0.010 -0.003 (-23.08%)+
Announcement
Release
2 Jul 2026 9:47AM
Price at Release
$0.013
Full Release
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Summary
Algorae Pharmaceuticals Limited, an AI-enabled pharmaceutical company, has been appointed as a supplier under a NSW Health public hospital supply contract through its division AlgoraeRx. This appointment followed a competitive tender process and aligns with the company's strategic plans. The contract, which has a three-year term with two additional one-year extension options, involves supplying an undisclosed pharmaceutical product. While the financial impact is not immediately measurable due to the lack of minimum volume commitments, the agreement is strategically significant as it integrates AlgoraeRx into one of Australia's largest healthcare networks. This collaboration is a key step in Algorae's dual strategy of AI-driven drug discovery and pharmaceutical commercialization, supported by its proprietary AI platform, AlgoraeOS.
Key Points
  • Algorae Pharmaceuticals Limited announced a supply contract with NSW Health.
  • The company was appointed following a competitive tender process.
  • The contract term is initially three years with two optional one-year extensions.
  • The specific pharmaceutical product's identity is confidential.
  • The financial impact is not immediately quantifiable due to no minimum volume requirements.
  • Revenue will depend on the volume and value of purchase orders.
  • The arrangement is strategically significant for AlgoraeRx.
  • AlgoraeOs, the company's AI platform, supports drug discovery efforts.
  • The company is pursuing a dual-track strategy combining AI-driven drug discovery and pharmaceutical commercialization.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.