Half-year Report

Investors | September 22, 2021

Trellus Health Plc (AIM: TRLS), the AIM listed provider of scientifically validated, resilience-based, connected health solutions for chronic condition management, announces its maiden unaudited half-year report for the six months ended 30 June 2021 following admission to trading on AIM on 28 May 2021.

 

About Trellus Health

Trellus Health is a leading pioneer in resilience-driven care and the first digital health company focused on the intersection of chronic physical conditions and mental health. Trellus Health’s digital-first chronic care management solution integrates convenient telehealth access to a licensed multidisciplinary care team with a suite of tools for resilience assessment, education and behaviour modification, remote monitoring, health maintenance and prevention.

Through its TrellusElevate™ connected care platform and companion App, the Company coordinates expert whole-person care, addressing both clinical and behavioural health together, in context, to improve outcomes and reduce healthcare costs for patients, employers, and the healthcare system. The Company is initially focused on Inflammatory bowel disease (“IBD“), which includes the chronic incurable conditions of Crohn’s Disease and ulcerative colitis, but considers its approach to have potential utility and demand across many chronic conditions.

 

Financial Highlights

  • Successful admission to AIM with fundraising of gross proceeds of c. $40.4m (£28.5m) at the 40p issue price.
  • In-licensed IP underlying product technology for $0.5m.
  • Approximately $1.7m capital investment in technology platform development at the end of June 2021.
  • Net cash of $39.7m (31 December 2020: $3.7m).
  • Adjusted EBITDA* loss of $1.36m (period from inception 15 July 2020 to 31 December 2020: $0.8m loss).


* Earnings before interest, tax, depreciation and amortisation adjusted for exceptional items

 

Post-period end

  • First Demonstration contract with Mount Sinai Employee Health Plan announced in August 2021.
  • TrellusElevateTM Platform V1.0 launched in July; companion App is available for download on the App Store and Google Play.
  • Over 150 proprietary digital behavioural skills modules available through TrellusElevateTM.
  • Managed Services Organization Agreement executed with Connected Health Medicine PC to deliver resilience-based multidisciplinary care using licensed clinical professionals trained on the GRITTTM methodology via the TrellusElevateTM
  • Appointment of Aled Stevenson as UK Managing Director to complement key executive hires in product development, technology, conversational AI, and clinical operations during H1 2021.

 

Commenting on recent developments and outlook, Julian Baines, Non-executive Chairman of Trellus, said:

“We are very pleased with the rate of progress made since IPO and remain confident in continuing to deliver against key operational milestones in accordance with our plans. Our immediate strategy is focused on developing and enhancing the TrellusElevateTM platform, which was launched in July, and we have already hit an early key milestone by securing our first demonstration contract with the Mount Sinai Health system employee health plan.

“We continue to anticipate signing contracts for additional new demonstration programmes with health plans over the coming months. These will not only assess feasibility, engagement and satisfaction, but also demonstrate the health economics studies of our solutions. Data from these projects are expected to reinforce what we already know from previous studies, that IBD patients show significant improvements in resilience and reductions in unplanned healthcare by using our proprietary methodology and resilience-driven multidisciplinary care model.

“We are also very pleased with the progression of our dialogue with large organisations outside of health plans and employers, including those within the pharmaceutical industry, who have recognised the potential value of our platform to support their goals, as well as third parties interested in applying our methodology to other illnesses.”

 

A copy of the investor presentation is available here: https://trellushealth.com/investors/annual-interim-reports/

The Company will also host a live online presentation today at 4.30pm today through the digital platform Investor Meet Company. Investors can sign up for free via:

https://www.investormeetcompany.com/trellus-health-plc/register-investor

A recording of the presentation and responses to the Q&A sessions will also be available afterwards.

For further information please contact:

 

Trellus Health plc
Monique Fayad, CEO
Julian Baines, Chairman
www.trellushealth.com
Via Walbrook PR
  
Singer Capital Markets (Nominated Adviser & Broker)
Aubrey Powell / Jen Boorer / Hannah Woodley
Tel: 020 7496 3000
  
Walbrook PR Limited
Paul McManus / Sam Allen
Tel: 020 7933 8780 or trellus@walbrookpr.com
Mob: 07980 541 893 / 07502 558 258
  

Media Inquiries

For Media Inquiries contact media@trellushealth.com for Trellus Health