Company Update
Trellus Health plc announced that cost-saving measures have extended their cash runway to early December 2025, beyond the previously announced early November timeline. The company anticipates reducing its average monthly cash burn from approximately $440,000 to around $395,000. Contract negotiations are in late stages for one collaboration with a leading global CRO to support a mid-stage clinical trial. Negotiations are progressing on a separate collaboration with a second leading global CRO following the company being granted preferred vendor status. Discussions with prospective investors regarding potential equity fundraising are ongoing, but there is no certainty that any funding transaction will be concluded.
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LONDON, U.K. AND NEW YORK, U.S. (21 October 2025). Trellus Health® plc (AIM: TRLS), a healthcare company delivering Trellus Elevate®, a digital platform that integrates data analytics with personalised, scientifically proven resilience programs and value-based solutions to manage complex chronic conditions, announces an update to cash runway, contract negotiations and fundraising discussions.
Cash Runway
As announced in the Company's interim results on 8 September 2025, the Company held net cash of $1.6 million as at 30 June 2025, providing a cash runway to early November 2025. Since then, the Board has implemented a number of cost-saving measures, extending the Company's cash runway to early December 2025. In addition, the Company now expects to reduce its average monthly cash burn from approximately $440,000 to around $395,000 going forward.
Contract Negotiations
As noted in the interim results, the Company had anticipated announcing at least one new collaboration by November. Discussions regarding one collaboration with a leading global CRO to support a mid-stage clinical trial are in late stage contracting. In parallel, negotiations on a separate collaboration with a second leading global CRO are progressing following the Company recently being granted preferred vendor status ("PVS"). Whilst PVS is not revenue generating in itself, being awarded this status by another leading global CRO reinforces the strength and differentiation of Trellus Health's offering in the clinical trials vertical, provides direct access to the CRO's client base, and accelerates procurement and contracting timelines.
The Board continues to anticipate announcing at least one new collaboration before the end of November.
Fundraising
As previously disclosed, the Board has been exploring options for a potential equity fundraising to support the Company's next phase of growth. Discussions with prospective investors remain ongoing. However, there can be no certainty that any funding transaction will be concluded. No other near-term strategic opportunities have been identified at this time and it is unlikely that any can be identified before early December.
The Board will provide a further update on both the potential fundraising and collaboration discussions in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.