Highlights

  • Trellus Health obtains USD 600k unsecured loan to support near-term operations.
  • Loan allows flexibility with share conversion or cash repayment after six months.
  • Company strengthens pharma and CRO partnerships, advancing Phase 2B and 3 trials.

Trellus Health® plc (LSE:TRLS), a digital healthcare company delivering Trellus Elevate®, announced an unsecured loan agreement with substantial shareholder Icahn School of Medicine at Mount Sinai (“Mount Sinai”) totaling USD 600,000. The Loan Note is structured to be non-interest bearing for six months, after which it will accrue interest at 8% per annum, payable in cash or Trellus ordinary shares, at the company's discretion.

The loan term is 12 months, with the option for Trellus to redeem the note, convert it into shares, or a combination of both. Any conversion is subject to a cap preventing Mount Sinai from holding more than 29.9% of the issued share capital.

Impact on Cash Runway and Operations

Proceeds from the Loan Note are intended to support continued commercial strategy execution and extend Trellus Health’s near-term cash runway to late January 2026. The company is also pursuing equity fundraising discussions to extend the cash runway further, though the outcome remains uncertain.

Strengthening Partnerships with Pharma and CROs

Trellus Health continues to focus on contracts with pharmaceutical companies and Contract Research Organizations (CROs). Typical contract values range from USD 500k to USD 1 million for pharma and USD 150k to USD 500k for CROs, excluding performance incentives.

CEO Dr. Marla Dubinsky highlighted that the company recently signed agreements with two leading global CROs and has already begun implementation for Phase 2B and Phase 3 trials, expecting to launch initial TrialSet™ programs by year-end.

Related Party Transaction

The Loan Note qualifies as a related party transaction under AIM Rule 13, as Mount Sinai currently holds 25% of Trellus Health’s shares. The company’s board, in consultation with Singer Capital Markets, considers the terms fair and reasonable for shareholders.

Share Price Snapshot

TRLS was trading 23.81% higher at GBX 0.65  per share as of 24 November 2025.