Business Update

Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the clinical infrastructure specialist, provides the following business and commercial update.

QVH Extension and Development Funding

Following continued local expansion of the pathway programme at QVH, the Company has received a further extension of the existing QVH contract to end of March 2027. This £127k extension is intended to cover the period to the end of the NHS financial year, while discussions at a national and regional level progress with the NHS. NHS England have communicated that they are now expecting to undertake a wider commissioning programme around clinical pathways and elective recovery to start in April 2027, which the Company is positioning for. Additionally, QVH has committed to provide a further £249k, awarded by Surrey and Sussex ICB, to support key product development to improve pathway delivery and scalability through the Bleepa platform, with a view that this will enable some pathways to be adopted more widely across the ICB in the coming months.

As the QVH contract extension invoice is to the end of March 2027 to align with the NHS year end (rather than the anticipated annual renewal), without additional revenue or cash receipts, the Company’s cash runway is currently expected to extend to the end of Q1 2027.

Additionally, the Company is encouraged by a recent independently commissioned review of Bleepa at QVH which has highlighted the significant time and cost saving impacts on the breathlessness and insomnia pathways at QVH as well as potential for wider rollout and scale across ICBs. Feedback believes this further demonstrates that Bleepa is closely aligned with wider NHS strategy and that of regional ICB’s, namely, easing the unsustainable demand on NHS services, long waiting lists and the left shift of care closer to virtual and community settings.

Further Opportunities

The Company is pleased to report increasing commercial engagement across multiple opportunities, including an approach by one of the largest ICBs to explore a multiyear elective transformation opportunity. The scope of work is currently being negotiated and is subject to contract terms being agreed. Whilst there is no certainty that the project will proceed, the scope is likely to involve an initial paid pilot phase with a clinical pathway going live across several providers around the calendar year end with a view that this will both inform and roll into a wider commissioning piece from April 2027, at the start of the next NHS financial year. Due to the scale of the opportunity this programme is likely to be delivered alongside, and formalise relationships with, key delivery partners and is anticipated to lead to equivalent opportunities with other ICBs who can replicate the approach as part of their elective recovery programmes.

Dr Tom Oakley, CEO of Feedback plc, commented: “Despite a challenging trading environment we are encouraged by these emerging opportunities and continuing discussions around the potential for a broader rollout of Bleepa. We believe these opportunities have the potential to bring significant long term value to both shareholders and our NHS customers.”