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.
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