$2.6 million capital raise to progress roll-out of Hailie® Smartinhaler® platform in the US

Adherium is pleased to announce that it has received firm commitments to raise $2,600,000, before costs, through the issuance of approximately 2,600,000 convertible notes. Investors will also receive 1 attaching option for every 2 shares issued under the convertible notes.

The capital raising was supported Bioscience Managers and Trudell Medical International, who each contributed $1.2m to the capital raise. Bioscience Managers is an international healthcare investment firm with a 20-year track record. Trudell Medical International is global leader in aerosol drug delivery and lung health devices for the management of respiratory conditions.

Adherium Interim CEO and Indepedendent Non-Executive Director, Jeremy Curnock Cook, said: “We are excited the ongoing commitment of Bioscience Managers and Trudell Medical International, who have supported us on the journey towards commercialisation of the Hailie® Smartinhaler® platform in the United States. ”

“Adherium remains focused on prudent financial management as we work methodically to service recent contracts with leading healthcare organisations in the US and other key markets, which total more than one million patients living with COPD and Asthma.

“These patients are primed to benefit from our ground-breaking technology which is underpinned rigorous clinical validation and on the cusp of unlocking extensive automation and medication-adherence behavioural insights with the emerging capabilities of AI. With US reimbursement codes now in place, it is time for Adherium to become a global leader in the proactive management of respiratory illnesses.

“At this critical juncture in our clinical and commercial growth, it has been deeply encouraging to receive support from respected and sophisticated investors in this interim capital raise. Their backing signals positive momentum in our business forecasts.”