Adherium Ltd's technology used in AstraZeneca chronic respiratory disease study
Published: 03:30 14 Jun 2016 EDT
Cashed up Adherium Ltd's (ASX:ADR) Smartinhaler technology will be used by AstraZeneca (LON:AZN) in a new U.S. clinical study that aims to improve medication adherence in patients with chronic obstructive pulmonary disease (COPD).
Smartinhaler is a touch-enabled device that provides alerts to improve medication adherence and health outcomes for patients.
Adherium is supplying the technology platform for the study under the long term master supply agreement already entered into with the global biopharmaceutical company AstraZeneca.
The 12-month study will be conducted at seven U.S. healthcare centres by enrolling nearly 400 COPD patients, starting in August.
The SmartTouch Symbicort device used in the study will feature a modern industrial design utilising miniaturised electronic sensors.
Adherium has a strong balance sheet with $28.9 million in cash as on 31 March 2016 via a $35 million raising by the New Zealand based company from an oversubscribed IPO in August 2015 and listing on the ASX.
This included a $3 million cornerstone investment from AstraZeneca.
Â
Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.
