Adherium and Planet Innovation partner to develop inhaled medication adherence devices and enhanced digital software platform
Melbourne, Australia – 21 April 2020: Adherium (ASX:ADR), a leader in digital inhaled device adherence, remote monitoring and data management solutions, today announced a strategic device hardware and software development partnership with Planet Innovation (PI). This development will
enhance Adherium’s leading device coverage position in both asthma and COPD with sensors developed to provide the physiological data required to enable physician monitoring reimbursement for this activity in the US.
Adherium’s Hailie™ technology is well placed to gain significant growth in the USA and beyond with the recent introduction of Current Procedural Terminology (CPT) reimbursement codes for remote patient monitoring. This comes alongside the increased global physician and provider interest in Telehealth which is being dramatically accelerated with the Covid-19 pandemic.
“Our partnership with Planet Innovation is a critical step in our revised commercial strategy expanding and enhancing our product portfolio and enables us to access both asthma and COPD
with devices facilitating physician reimbursement. This investment reflects the continuing
revitalisation of Adherium alongside the appointment of a new leadership team, the successful
rights issue in January this year and initial commercial partnering agreements such as HGE Health
last week,” said Mike Motion, Chief Operating Officer.”
“Our New Zealand based team has built close links with PI and whilst overseeing the new projects
with PI, will also upgrade our existing devices to leverage the new software enabling the
physiological data capture required to access the RPM CPT codes.”
“While operating in challenging times due to the COVID-19 pandemic our operational response to
the situation, working with our employees and partners, is enabling us to continue activities on the
planned timeline. We continue to manage the situation closely in response to new developments.”
Planet Innovation has a proven track record in the highly regulated medical device hardware and
software development arena including for connected devices and digital platforms. PI has a team of
over 300 people, working across product design and development through to product
manufacturing, and has a wide range of global collaborations including with Merck, Ramsay Health
and Melbourne-based start-up Scinogy.
Co-CEO and co-founder of Planet Innovation, Sam Lanyon, said: “Planet Innovation is pleased to be
collaborating with Adherium to support their innovation investment in Melbourne as it upgrades its
existing software and devices and develops the next set of products with enhanced physiological
measurement capabilities.”
This new relationship is complementary to the recently announced collaboration with Summatix
Pty Ltd, a Melbourne based medical informatics company developing an open, scalable, regulated
data platform to assist its clients in the dissemination and creation of actionable medical data for
clinicians in the delivery of healthcare for their patients.
About Adherium (ASX: ADR): Adherium is a provider of digital health solutions and a global leader in connected respiratory medical devices, with more than 170,000 sold globally. The company
develops, manufactures and supplies a broad range of connected medical devices for respiratory
medications for patients, pharmaceutical companies, healthcare providers and contract research
organisations. Adherium’s Hailie™ solution is designed to help patients achieve better adherence
and provide visibility to parents and caregivers. It does this by tracking medication use and
reminding the user with helpful nudges when it’s time to take doses, and by providing access to
usage history to better understand patterns in their asthma and COPD. These tools ultimately enable
people who live with asthma or COPD to more easily manage their condition alongside their
physician. Learn more at adherium.com.
About Planet Innovation
Planet Innovation is a healthtech innovation and commercialization company that exists to create
breakthrough products and commercially successful businesses that transform industries and have a
positive impact on the world. PI has a team of more than 300 people who are experts in how to
research, design, engineer, manufacture, fund and market new products and new businesses. In
addition to PI’s Services divisions, its current portfolio of businesses includes Lumos Diagnostics, Zen Ecosystems and Atmo Biosciences.
The release of this announcement was authorised by the Adherium Board of Directors.
Enquiries: Rudi Michelson Mike Motion
Monsoon Communications Adherium
+61 3 9620 3333 +44 7917 688801
+61 (0)411 402 737
rudim@monsoon.com.au investors@adherium.com