Opyl (ASX:OPL) said that its proprietary artificial intelligence platform, TrialKey, in partnership with UK-based Innovatrix Capital, launched a clinical trial insurance product for pharmaceutical and biotechnology firms, according to a Wednesday Australian bourse filing.

TrialKey will serve as the independent calculation agent, providing probability of success estimates, with 95% confidence intervals, at key stages of a clinical trial, under a nonbinding agreement.

TrialKey will deliver end-to-end analytical services, including initial, interim, and final probability of success estimates into Innovatrix's proprietary rating engine, CliniX.

Innovatrix is committed to a non-refundable 50,000 pound sterling retainer providing immediate financial validation of long-term collaboration.

TrialKey will retain full ownership of its proprietary data and artificial intelligence models, while Innovatrix will receive a perpetual license for underwriting, claims, and promotional applications.