New Zealand-based Adherium (ASX: ADR) is set to form a collaborative alliance with US-based HGE Health to remotely evaluate, treat and manage patients with severe asthma and chronic obstructive pulmonary disease.
The respiratory device manufacturer will integrate its own sensor and software technology into HGE Health’s established telemedicine platform to provide better overall health care for high-risk patients and primary care physicians.
The HGE Care digital platform and technology-enabled service allows for the remote care of patients across the US, helping them better understand and manage changes in their pulmonary symptoms.
It is contracted by payers and providers in New Jersey, Pennsylvania, Oklahoma, and Arizona for the management of over 100,000 COPD patients, with near-term expansion planned into other US states.
HGE Care will pair with Adherium’s Hailie digital solution to support remote monitoring of respiratory patients by tracking their medication usage, providing reminders to help ensure doses are not missed and promote a life with fewer symptoms.
Hailie is enabled by bluetooth sensors which clip onto a patient’s existing corticosteroid inhalers and automatically send real-time information to their smartphone.
Knowing whether patients are in compliance with their prescriptions will also allow the effectiveness of different medications to be evaluated on a patient-by-patient basis.
The collaboration will focus initially on the COPD patient group, with an immediate target of those particularly at risk from COVID-19.
Based on the COPD patient outcomes, the collaboration will extend its offerings to manage high-risk asthmatic patients.
Adherium chief operating officer Mike Motion said the HGE Health collaboration was the first step in a revised commercial strategy.
“This helps confirm our position in the growing digital and remote patient monitoring market [and] demonstrates our ability to scale our business by delivering technology solutions that drive efficiencies and improved outcomes,” he said.
“We have ambitious plans with HGE Health to extend our combined offering across the US in the future.”
Based on the initial pilot and planned scale-up, Mr Motion said Adherium would not be expecting material revenue impact in 2020.
He anticipates significant commercial impact thereafter, with COPD patients potentially benefitting from the expanded HGE Health product offering.
Adherium has announced a new chairman to its board of directors following the passing of long-term chairman Thomas Lynch.
James Ward-Lilley, who is currently working as a consultant to the company, has been appointed to the role and brings with him over 28 years operational and leadership experience in the global pharmaceutical and medical device industries.
Mr Ward-Lilley’s consulting role will continue until June, after which he will be appointed a non-executive and independent director.
On joining the board, he will be awarded 10 million Adherium options exercisable into ordinary shares on a one-for-one basis, with an exercise price of $0.04 per share, vesting over three years and expiring in 2027.
“Having worked as a consultant in the business for the last few months, I am pleased to report a step change in [business] progress and look forward to a very promising series of upcoming news flow, including US commercial progress, in the near term,” he said.
At mid-morning, shares in Adherium were trading 25% higher at $0.03.