5-10% of the world’s population suffer from asthma. That’s over 23 million people, 7 million of whom are children.
Whilst for some it is a minor nuisance, asthma can be a chronic and often debilitating problem and can be a precursor to numerous comorbidities. The condition causes the airways to narrow and potentially produce more mucus. This makes breathing normally difficult, and can leave the person at risk of serious respiratory distress.
The use of asthma puffers can be hit and miss, a problem respiratory eHealth company Adherium (ASX: ADR) is seeking to solve with their asthma management devices.
In an age where just about everything can be done remotely, companies are being pushed to keep pace with the evolving needs of our healthcare system.
The Hailie inhaler is equipped with sensors to detect physiological parameters providing the patient’s healthcare team with essential data to improve treatment. These include inhalation duration, inhalation volume and peak inhalation flow. All data can be accessed remotely, allowing healthcare providers to track patients’ progress and implement the most appropriate treatment all while better managing clinical workflow and saving valuable time.
The Company has completed a first production run of the next generation Hailie sensors. The FDA approved sensors are made for use with asthma medication Symbicort, a steroid and bronchodilator combination manufactured by AstraZeneca.
The Company estimates that the US patient group of asthma sufferers that could pick up Hailie represents a total addressable market of USD $1.5 billion.
CEO of Adherium, Rick Legleiter said: “Commencing manufacturing of our new, next generation smart inhaler is an important milestone. This is another example of executing and delivering on our product roadmap. Bringing innovation to market and working with our business partners to implement and deliver value-based medicine is the path toward commercialising our product portfolio. As a respiratory innovator for over 20 years, Adherium has an unequaled and formidable track record of development and experience expected of a market leader in respiratory digital health.”
Recent quarterly results saw the $28 million microcap company report customer receipts at $92,000, a lift from last quarter’s $12,000 largely thanks to customer clinical trial activity. The Company received an annual Australian R&D tax incentive of $1.6 million and rounded out the quarter with a cash balance of $10.7 million.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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