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Trellus Health float on AIM

May 2021



Headquartered in Cardiff, Trellus Health is commercialising its resilience-driven connected health solution which will leverage expert whole-person care, data science and technology to deliver personalised and more cost-effective care for people living with chronic conditions.

The Company will empower people with chronic conditions, starting with Inflammatory Bowel Diseases (“IBD”), to make sustainable behaviour change that leads to better health outcomes and lower costs.

Admission to Trading on AIM

On 28th May 2021, admission and dealings commenced by way of an Issue of New Ordinary Shares in aggregate by way of Placing, Restricted Offer and Subscription at an Issue Price of 40 pence each.

Reasons for admission and use of proceeds

The Company believes that, in addition to providing access to capital, becoming a quoted company provides a signal of quality to prospective partners and customers, raises the profile of the business and its connected care solutions and provides a supportive platform on which to grow the business further.

The Directors also believe that the Fundraising and Admission will provide an opportunity to align the interests of key stakeholders in the business.

The net proceeds of the Fundraising which were £26,870,000 are intended to be used by the Company approximately as follows:

  • £0.4 million to pay amounts due under the ISMMS licence agreement;
  • £9.0 million to continue the development and enhancement of the TrellusElevateTM platform, including developing the conversational artificial intelligence technology in managing and providing support to patients;
  • £7.0 million for commercialisation, marketing and business development;
  • £6.0 million for general corporate overheads, including other planned capital expenditure;
  • £2.5 million for research and academic collaboration purposes and geographic expansion purposes to pursue scientific development and partnerships; and
  • with the balance, circa £2 million, being made available as contingency and providing additional working capital.

The Perivan shareholder communications team were delighted to work with N+1 Singer Capital Markets who were appointed Nominated Adviser & Sole Bookrunner to Trellus on the successful publication of the 136-page admission document.

Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.

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