ADHERIUM LIMITED — Board/Management Information 2018

Dec 12, 2018

==> picture [121 x 32] intentionally omitted <==

Adherium Restructures for Growth

Melbourne, Australia – December 13, 2018: Following an extensive strategic review conducted by the Board of Adherium (ASX: ADR), the Company announces a reorganization designed to focus on the development of its technology and insights into how data, and its application, will impact on the practice of medicine. The Company recognized that, through partnerships and collaborations, it will accelerate the deployment of 17 years of experience, bringing together medical devices and its understanding of the importance of data in managing adherence.

To prepare for the future, the Company is making changes to create a smaller, simpler, more dynamic operational structure, from which it will develop discrete programs with partners during 2019. In this context, Adherium is reducing its internal development capability and will also reduce its direct operational presence in the USA.

This restructuring will deliver an immediate and sustainable reduction in expenses through a significant contraction in workforce across the United States and New Zealand. This includes Group CEO Arik Anderson and CFO David Allinson who will be leaving the Company, and the Board wishes to thank them for their contribution. Rob Turnbull, the Company’s existing VP of Finance & Business Services, and joint Company Secretary, has been appointed General Manager and will provide leadership to the organization from Auckland, New Zealand. Rob joined Adherium in 2013 and is well versed in all aspects of the business.

The reshaped team will be focused on overseeing enterprise solutions development and supporting our current and new customers’ growth with smart inhalers, in particular AstraZeneca. In addition to Adherium’s approved sensors for asthma medication Symbicort® globally, Adherium this week gained a valuable US FDA 510(k) over the counter clearance for its sensor for AstraZeneca’s Bevespi® medication, marketed in the US for COPD.

This reorganization also provides the Company with the future resources necessary to enhance its sensor development and platform capabilities by accessing and collaborating with leading development houses, while retaining committed cost flexibility. This enhancement will deliver the scalability and features in sensors, along with the mobile and platform applications commercial customers are seeking in a total solution for managing populations with chronic respiratory disease.

Directors are confident that this change will bring about enhanced benefits for Adherium, its customers and shareholders, through a more responsive, and competitive business.

On behalf of the board of directors Thomas Lynch Chairman

About Adherium

Adherium is a digital health platform and global leader in connected respiratory medical devices, with over 130,000 sensors distributed. The Company develops, manufactures and supplies patients, pharmaceutical companies, healthcare providers and contract research organizations with the broadest range of connected medical devices for respiratory medications. The sensors and accompanying technology address sub-optimal medication use and strive to improve health outcomes in chronic disease. Learn more at adherium.com.

Enquiries

investors@adherium.com +64 9 307 2771