Empower Clinics Signs Agreement To Conduct Research and Clinical Trials with Dallas, TX Based Medical Center - And Major Milestone With Signing Of Research Services Agreement With First Principal Investigator - Seite 2

On March 7, 2023 the partnership accelerated rapidly at the corporate level with the formation of a Joint Venture company, as well as, on the operational level with the identification and engagement of over 50 Principal Investigator (PI's) candidates.

Today the Company is pleased to report a major milestone with the signing of its first agreement with a Principal Investigator (PI). Moreover, the Company anticipates announcing additional new PI signings in the near future.

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 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, "These new agreements bring change, they bring growth, and as a result we anticipate new revenue in 2023, we expect additional PI's to join our investigator roster, and we anticipate accessing revenue and cash flow far greater than our company has previously experienced."

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.