TIDMTRLS
RNS Number : 2719Q
Trellus Health PLC
17 February 2023
Trellus Health plc
("Trellus Health" or the "Company")
Launch of D2C IBS Offering, Expansion of Mount Sinai
Agreement
and Related Party Transaction
Trellus now offering comprehensive Digestive Health solution
covering both IBD and IBS across both D2C and B2B2C channels
LONDON, U.K. AND NEW YORK, U.S. (17 February 2023): Trellus
Health plc (AIM: TRLS), which is commercializing a scientifically
validated, personalized resilience-driven self-management solution
for chronic health conditions at their intersection with mental
health, announces the launch of its Direct-to-Consumer ("D2C")
offering for people living with Irritable Bowel Syndrome
("IBS").
The Company also announces the expansion of one of its existing
agreements with the Mount Sinai Health System ("Mount Sinai"),
under which the Trellus Resilience Training and Self-Management
Solution (the "Trellus Method") is being made available as a
wellness benefit to members of a large New York State labour union
which provides health services and benefits to its members through
Mount Sinai. This contract is now expanded to make the Trellus
method available to people living with IBS as well as to patients
with inflammatory bowel disease ("IBD"). The original contract with
Mount Sinai was disclosed in regulatory announcements made on 17
October and 20 December 2022.
Trellus Health has now launched its D2C offering for IBS,
providing its resilience-based methodology to support IBS patients'
through coordinating and delivering personalized behavioural,
emotional and nutritional support remotely via digital solutions,
and provide access to an expert resilience team via telehealth. The
D2C offering will also help to drive awareness and demand and
further build an evidence base to support B2B2C engagement by
providing real-world evidence of the health and economic outcomes
of the Trellus Method and its application to chronic
conditions.
The terms of the amended and restated Mount Sinai contract
described above (the "Contract") are not materially changed, save
for the expanded availability of the Trellus Method to members of
the union with a diagnosis of IBS in addition to those members
diagnosed with IBD. As previously disclosed, the Contract does not
provide any guaranteed revenue but demonstrates further execution
of the Company's strategy to make the Trellus Method available to a
larger target patient population by addressing resilience in an IBS
as well as an IBD context.
IBS is a common condition affecting the digestive system, that
has significant similarities with IBD from a symptom burden and
emotional perspective. IBS is a chronic, lifelong problem which can
have a big impact on an individual's quality of life through both
physical and mental psychological challenges. IBS has a much higher
population prevalence than IBD, impacting c. 30 million patients in
the United States (U.S.), compared to c. 3 million for IBD.
Whilst there is currently no cure for IBS, behavioural health
approaches are essential to managing and supporting the condition
and its symptoms. Trellus Health's personalized, resilience-driven
self-management training programs are designed specifically for
people looking to overcome symptoms and emotional burdens
associated with IBS and IBD, and the Company believes its methods
have utility across a number of other chronic conditions.
Dr. Marla Dubinsky, Chief Executive Officer of Trellus Health,
said: "I am delighted to be in a position to launch the Trellus
Method for IBS program, through both our D2C offering and by
expanding one of our contracts with Mount Sinai. Trellus now offers
a comprehensive gastroenterology (GI) solution for both IBS and
IBD, and this represents the culmination of a lot of hard work by
the team.
"IBS affects around 30 million people in the U.S., and often has
a significant impact on a person's quality of life. We look forward
to working with patients and partners to further evaluate how the
Trellus Method can empower those suffering with IBD, and now also
IBS, to achieve better health outcomes and increased quality of
life, with reduced healthcare costs."
Related Party Transaction Disclosures
The Trellus Method is based on technology developed by Mount
Sinai faculty and licensed to Trellus Health. Mount Sinai and Mount
Sinai faculty, including Dr. Marla Dubinsky, have a financial
interest in Trellus Health. Mount Sinai has representation on the
Trellus Health Board of Directors.
Dr. Marla Dubinsky, CEO of Trellus Health, is a professor of
pediatrics (gastroenterology) and medicine (gastroenterology) at
the Icahn School of Medicine at Mount Sinai. As the Contract has
the potential to generate revenue which could exceed the relevant
threshold for classification as a related party transaction under
the AIM Rules, the Contract is classified as a related party
transaction pursuant to the AIM Rules for Companies.
The independent directors of the Company (being Dr. Daniel
Mahony, Mike Salter, Christopher Mills and Traci Entel), having
consulted with Singer Capital Markets as the Company's Nominated
Adviser, consider that the terms of the Contract are fair and
reasonable insofar as the Company's shareholders are concerned.
For further information please contact:
Trellus Health plc www.trellushealth.com
Dr. Marla Dubinsky, CEO and Co-Founder Via Walbrook PR
Dr. Daniel Mahony, Chairman
Singer Capital Markets (Nominated Tel: 020 7496 3000
Adviser & Broker)
Aubrey Powell / Jen Boorer
Walbrook PR Limited Tel: 020 7933 8780 or trellus@walbrookpr.com
Paul McManus / Sam Allen / Phillip Mob: 07980 541 893 / 0 7748 651 727
Marriage / 07867 984 082
About Trellus Health plc ( www.trellushealth.com )
Trellus Health (LSE: TRLS) is the first resilience based digital
health company focused on the intersection of chronic illness and
mental health. Trellus Health integrates its proprietary
resilience-based methodology with the technology, tools and team to
deliver a whole-person technology-enhanced experience that results
in relieving disease burden, building self-management skills and
promoting individual health behaviours that enable thriving in the
face of a chronic condition. Through its TrellusElevate(TM)
connected health platform and companion App, the company addresses
both physical and behavioural health together, in context, to
improve outcomes and reduce healthcare costs across the healthcare
ecosystem.
The Company was initially focused on Inflammatory bowel disease
("IBD"), which includes the chronic incurable conditions of Crohn's
Disease and ulcerative colitis but has now added Irritable Bowel
Syndrome ("IBS"). Given the common struggles of self-management,
Trellus Health considers its approach to have potential utility and
demand across many chronic conditions.
The TrellusElevate(TM) platform is the Company's proprietary
connected health platform that incorporates the GRITT(TM)
methodology and learnings on resilience from clinical research and
practice conducted at the Mount Sinai IBD Center for more than five
years. This proprietary, resilience-driven methodology has been
scientifically validated to demonstrate meaningful improvements in
patient outcomes, 71% reduction in Emergency Department (A&E)
visits, and 94% reduction in unplanned hospitalisations, which the
directors of the Company believe indicates the potential for
significant cost savings for healthcare payers. Patients with IBD
treated using the methodology also experienced a 49% reduction in
required opioid use and a 73% reduction in corticosteroid use 12
months following starting the program(2) .
The Company was founded by Mount Sinai faculty members Marla C.
Dubinsky, MD and Laurie Keefer, PhD, both with decades of combined
experience in IBD and psychogastroenterology, respectively. Trellus
Health's patent-pending GRITT(TM) resilience assessment and
personalized resilience training methodology was developed and
validated at the Mount Sinai Health System to build resilience and
wellness for improved outcomes at lower cost.
Shares in Trellus Health were admitted to trading on AIM in May
2021, under the ticker TRLS. For more information on Trellus
Health, visit: www.trellushealth.com
1) Source:
https://www.cdc.gov/chronicdisease/about/costs/index.htm )
2) Source:
https://www.sciencedirect.com/science/article/pii/S1542356521012258
)
About the Trellus Health Digestive Health program
Trellus Health is pioneering a scientifically validated,
personalized resilience-driven self-management solution for chronic
digestive health conditions which addresses the intersection of
chronic illness with mental health, estimated to cost the US
economy $3.7 trillion annually.(1) The Trellus approach transforms
chronic condition management and changes the lives of patients
living with debilitating, incurable conditions, initially focused
on IBD, including Crohn's Disease and ulcerative colitis, and IBS,
but with potential utility and demand across many chronic
conditions.
The Digestive Health program is a self-management solution
driven by personalized resilience training. The program empowers
and enables members to manage their condition by teaching them to
set goals, actively identify challenges and solve problems
associated with their condition, driving a change of health
behaviour to deliver improved outcomes and health status at lower
cost.
Patients with IBD and IBS face many challenges which are common
across many chronic conditions: the management of complex
medication regimens, dealing with symptoms and disability,
monitoring physical indicators, maintaining proper levels of
nutrition, adjusting to the psychological and social demands
including difficult lifestyle adjustments, as well as engaging in
effective interactions with health providers.
Trellus Health's personalized resilience-driven self-management
training programs are designed specifically for people looking to
overcome these challenges. The aim is to enable patients and their
physicians to achieve better quality patient outcomes at a lower
cost to health plans and employers, and the proprietary resilience
method has been proven to reduce unplanned hospitalizations by 94%
at the Mount Sinai IBD Center, New York, NY.(2)
About Irritable bowel syndrome (IBS)
IBS is a common condition that affects the digestive system. It
causes symptoms like stomach pain, bloating, diarrhoea and
constipation. These tend to come and go over time, and can last for
days, weeks or months at a time. It's usually a chronic, lifelong
problem which can be very frustrating to live with and can have a
big impact on an individual's everyday life. Whilst there is
currently no cure for the condition, behavioural health techniques,
diet changes and medicines can often help control the symptoms. The
exact cause is unknown - it's been linked to food passing through
your gut too quickly or too slowly, oversensitive nerves in a
patient's gut, stress and a family history of IBS.
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