Trellus Health (TRLS ) has signed an agreement to provide an Inflammatory Bowel Disease ("IBD") demonstration programme for the Mount Sinai Health System employee health plan.
The Group, which is focused on commercialising a scientifically validated, resilience-based, connected health solution for chronic condition management, highlighted that Mount Sinai operates one of the largest self-insured employer health plans in the New York State area.
Trellus Health explained to its shareholders that the initial agreement will assess feasibility, engagement and satisfaction of the firm’s digital chronic condition management solution for Mount Sinai's non-union employees, eligible dependents and their treating physicians.
Trellus intends to begin generating revenue in the current financial year through a number of demonstration projects, potentially involving several hundred patients in aggregate.
Under the deal, Trellus Health will recruit, assess and engage eligible IBD patients, with a targeted total enrolment of 25 patients. Following patient enrolment, the demonstration programme will coordinate six months of active care management followed by a final programme report, expected to be available within 30 days of programme completion.
The Company outlined that this initial demonstration programme is expected to commence before the end of 2021 with conclusions from the final programme report expected in 2022.
The solutions deployed in this and other planned demonstration programmes will utilise the scientifically validated patent-pending ‘GRITT’ resilience assessment and personalised care management methodology and a proprietary technology platform called TrellusElevate™, to coordinate and deliver personalised clinical and behavioural care remotely via telehealth.
The GRITT resilience assessment and personalized treatment methodology described is based on technology developed by Mount Sinai faculty and licensed to Trellus Health.
Beyond this initial agreement, Trellus informed investors that it expects to scale its initial demonstration projects into longer-term and broader-ranging contracts based on the achievement of successful IBD patient and physician engagement and satisfaction rates.
Trellus said it continues to engage with potential partners and customers on further demonstration programmes which will ‘illustrate the potential health economics and return on investment to payers’ of the firm’s digital chronic condition management solutions.
Trellus explained that these programmes are expected to generate data to drive demand for greater adoption, ‘whilst simultaneously generating additional revenues for the Company.’
To date, previous studies involving Trellus’ proprietary methodology and resilience-driven multidisciplinary care model have demonstrated ‘significant improvements’ in resilience and reductions in unplanned healthcare within Inflammatory Bowel Disease patients, it noted.
In terms of market scope, the Directors estimate that chronic and mental health conditions and IBD, represent over $3 trillion and $30-50bn in total annual costs in the US, respectively.
Monique Fayad, CEO of Trellus Health, said: "Our commitment to coordinating expert whole-person care for people living with chronic conditions, addressing clinical and behavioral health together, in context, is strategically aligned with the Mount Sinai Health System's goal of rolling out new initiatives that transform their employees in mind, body and spirit.”
Jane Maksoud, RN, MPA, Chief Human Resources Officer, Mount Sinai Health System, commented: "We look forward to evaluating Trellus Health as a potential new programme to address both physical and mental resilience for improved employee health and wellness."
Trellus Health is initially focused on IBD, which includes the chronic incurable conditions of Crohn's Disease and ulcerative colitis, but considers its approach to have potential utility and demand across many chronic conditions including, inter alia, Irritable Bowel Syndrome ("IBS"), diabetes, cancer, kidney disease, cardiac, respiratory and autoimmune conditions.
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Upon its initial admission to the AIM market in May 2021, Trellus Health attracted strong demand from institutional and private investors after raising £28.5m as part of its IPO.
Following the oversubscribed placing at the time, Trellus, which is focused on commercialising a resilience-based, connected health solution for chronic condition management, with an initial focus on Inflammatory Bowel Disease (IBD), was valued at c.£64.6m on admission.
The Company’s initial target market in IBD, which includes the chronic incurable conditions such as crohn's disease and ulcerative colitis, costs the United States around $20,000 a year per average patient, a baseline figure which is subject to inflation because of hospitalisations.
The estimated total annual financial burden of IBD in the US ranges from $30 to $50bn, including direct healthcare costs and indirect costs such as workdays lost due to illness.
Trellus said it expects to ‘capitalise rapidly’ on its existing qualified pipeline of payer and pharmaceutical industry opportunities. Looking ahead, it believes that relatively modest adaptations of its GRITT methodology and technology platform will enable the Company to address other costly and widespread chronic conditions and expand internationally.
In a Q&A, Vox Markets spoke to CEO, Monique Fayad and Co-Founder Marla Dubinsky. They discuss how their resilience driven, connected health system addresses both clinical needs and behaviour targeting those suffering with chronic illness and how the system leads to positive health outcomes and cost savings for the health system and insurers.
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