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- HeraMED (HMD) has signed an agreement with Freeman Road and the PHI group to begin pilot programs in Australia
- The programs will be run out of the Joondalup Health Campus in Perth
- The pilot covers clinical studies on HeraMED’s HeraBEAT and HeraCARE products
- HeraBEAT and HeraCARE are technology platforms used by medical professionals to streamline pregnancy care
- HeraMED shares are 4.35 per cent higher at market open, trading for 12 cents per share
HeraMED (HMD) has signed agreements to advance clinical studies in Australia to promote the company’s telehealth pregnancy care apps.
The medical data company has signed an agreement with Freeman Road to lead the studies. Freeman Road has itself partnered with PHI (Partnering in Health Innovations) and is a prominent healthcare advisory group.
Under the new agreements, HeraMED will give up some 5,500,000 options to Freeman Road as it hits certain milestones. The options will be unlisted, with an exercise price of $0.15, for a total equity of $825,000.
Upon completion of the pilot program, Freeman will receive two million options, a further 2.5 million upon completion of the overall study, and a final one million options upon the execution of a commercial agreement for HeraCare’s use.
The group will be responsible for undertaking pilots of HeraMED’s pregnancy telehealth platform, and the first one has already been arranged at the Joondalup Health Campus in the northern suburbs of Perth.
This partnership between PHI and Freeman Road has a long history, with both companies collaborating on projects in several countries across a variety of medical sectors. HeraMED is hoping to piggyback off these connections and take its technology global.
The study at Joondalup Health Campus will examine the usability and acceptability, accuracy and reliability of the HeraBEAT device, a baby heart monitor linked to a smartphone app. This will initially be available in antenatal clinic and homes, before the app is greenlit for use in routine clinical procedures.
HeraBEAT is one of the linchpins of the company’s HeraCare software, which aims to provide a wide range of digital maternity care products. HeraMED believe its approvals to begin the trial will be received within weeks.
HeraMED CEO and Co Founder, David Groberman, said he was “incredibly proud” of the deal and what it represents for his company, as it partners them with some prominent leaders in the Australian medical community.
“PHI has set its mission to make a lasting impact on the health of current and future generations, and I believe HeraMED shares the same mission in our maternity ecosystem,” David commented.
“This agreement follows extensive due-diligence and these pilots and trials are just the start of our planned collaboration,” he continued.
HeraMED shares are 4.35 per cent higher at market open, trading for 12 cents per share at 10:45 am AEST.
