According to Adherium, the company has received $1.1 million in a second round of secured debt note financing, and the subscriber for this round is new strategic investor Trudell Medical Limited, parent company of respiratory device companies Trudell Medical International, Monaghan Medical, and NasoNeb. Adherium said that the funds would be used for working capital.
This new investment comes after the company completed a first round of $1.8 million in secured debt note financing on the same terms in August 2019. Investors in the first round included health data platform company Summatix, which also entered into an agreement with Adherium to allow access to data from Adherium’s Hailie connected inhaler sensors through the Summatix platform.
Adherium said that it expects that the notes from both rounds will convert into shares and options in the company, subject to shareholder approval, after the company raises a minimum of $2.5 million by January 31, 2020.
Read the Adherium press release.
