Adherium Accelerates US Growth with Nearly 3,000 Patients Using Hailie® Smartinhaler™

Strong Patient Adoption and Market Traction

Adherium Limited (ASX: ADR) has revealed encouraging progress in its December 2024 quarterly cash flow report, highlighting nearly 3,000 patients currently using its Hailie® Smartinhaler™ technology. This marks a significant milestone as the company aims to expand its active patient base to 9,000 by the end of 2025. The growth is underpinned by increasing customer receipts, which rose to $148,000 this quarter, reflecting growing adoption and market traction for its connected respiratory health solutions.

Strategic US Partnerships Fuel Expansion

Central to Adherium’s momentum are its newly forged partnerships with US-based remote patient monitoring (RPM) companies AMC Health and Tenovi. Both have integrated Adherium’s platform, with AMC Health purchasing 560 devices in December and placing a further order of 170 devices in January. Tenovi has launched with its first customer and is preparing for additional rollouts. These collaborations provide Adherium access to nearly 200,000 patients across prominent US health insurance payers, unlocking significant growth potential in the world’s largest healthcare market.

Emerging Revenue Opportunities in Pharmacy Benefit Management

Adherium is also exploring entry into the Pharmacy Benefit Management (PBM) sector, a market projected to grow at a compound annual growth rate of 5.64%. PBMs play a critical role in managing drug pricing and distribution through insurance plans, and Adherium is in discussions with multiple PBM companies, aiming to onboard its first patients mid-2025. This diversification could open a new revenue stream and broaden the company’s footprint within the healthcare ecosystem.

Innovation and Research Partnerships in Australia

Beyond the US, Adherium is pursuing collaborations with Australian universities and research institutions to validate patient outcomes and build advocacy among key opinion leaders. These efforts aim to strengthen the company’s position with asthma and COPD stakeholders, including healthcare payers, providers, and government bodies, supporting long-term adoption of its digital health solutions.

Financial Position and Management Update

Adherium secured a $674,000 R&D loan to fund ongoing innovation and reported cash receipts of $420,000 in January from AstraZeneca related to a $1.1 million contract. However, cash on hand declined to $387,000 at quarter-end from $3.28 million previously, reflecting increased operational expenses, including marketing and US expansion costs. The company is planning a capital raising to support its growth trajectory, with confidence expressed by management in securing necessary funding. Additionally, Jeremy Curnock Cook has been appointed Acting CEO while the search for a permanent replacement continues.

Outlook for 2025

Looking ahead, Adherium is well-positioned to accelerate its market presence with a clear roadmap: expanding patient numbers to 9,000, advancing PBM segment entry, continuing rollouts with AMC Health and Tenovi, and broadening its reach across Allergy Partners and SENTA Partners networks. The company’s focus on innovation, strategic partnerships, and expanding market channels lays a solid foundation for sustainable growth in the evolving digital respiratory health landscape.