Communicators

-          Israel Innovation Authority and Mayo Clinic program launched to promote company collaborations

-          HeraMED aims to utilise funding for the ongoing co-development and integration of HeraCARE and OrionAI with Mayo Clinic

-          Phase one passed with strong support from the Mayo Clinic - funding is up to 50% of project cost and is non-dilutive

-          Approval progress remains ongoing - any potential funding is expected to be approved during Q1 2020

Medical technology company, HeraMED Limited (ASX:HMD) (“HeraMED” or the “Company”) is pleased to advise that it has successfully passed the first phase of approvals required to receive a grant from the Israel Innovation Authority (IIA).

The grant is being issued as a collaboration between the Israeli government and Mayo Clinic with an aim to promote collaborations between promising Israeli companies and Mayo Clinic innovators. The goal of these collaborations is to accelerate chosen medical innovations to the public and introduce Israeli technology to the United States. Further, both parties aim to advance development of particular platforms and technologies for the benefit of patients globally.

HeraMED has applied for the grant to fund the ongoing development and integration of its HeraCARE platform. HeraCARE is a SaaS-based, digital pregnancy management and monitoring platform which is already being developed in collaboration with the Mayo Clinic (refer ASX announcement: 19 September 2019). The platform is for home and professional use. Its features will include continuous home measurements and self-monitoring using multiple connected devices to improve pregnancy care, personalised pregnancy education, wellbeing guidance and a 24/7 midwifery consultancy, as well as online support.

The Company has received strong support from the Mayo Clinic during the first phase of the application. The Mayo Clinic is a shareholder of HeraMED, as well as a design collaborator. Should HeraMED be successful in the grant process, it will receive funding for up to 50% of the project cost for a period of 24 months, the amount of which is not yet known. Funds deployed will be utilised in R&D, production modification, regulatory conformation, establishing beta programs and work attributed to sub-contractors. It is anticipated that a final decision around the funding will be made by the end of Q1 2020. HeraMED is confident that the grant will further strengthen its relationship with the Mayo Clinic.

CEO and Cofounder Mr David Groberman said: “We are pleased with the support that we have received from both the Israel Innovation Authority and Mayo Clinic in the first phase of the approvals process.

“HeraMED has a successful track record in applying for and receiving IIA grants, as well as strong relationships with Mayo Clinic. The Company is confident that it can progress external, and importantly non-dilutive funding initiatives for the development of its HeraCARE platform.

“The Company will continue to put its best foot forward and work with all parties involved to maximise its chances of securing the funding. We look forward to updating shareholders on progress as it materialises.”

About the Mayo Clinic:

Mayo Clinic is an American non-profit academic medical centre, based in Rochester, Minnesota. Mayo clinic is ranked the world’s number one hospital, three years in a row. The organisation is focused on integrated clinical practice, education and research. The Mayo Clinic has provided Americans with comprehensive medical services for over 150 years. It employs more than 4,500 physicians and scientists, along with 54,000 administrative and allied health staff across 19 hospitals in five US states. The group services 1.3 million people annually and specialises in treating difficult cases through tertiary care and destination medicine. The organisation spends over $660 million per annum on research and boasts over 3,000 research personnel, employed through 57 research centres.

About HeraCARE:

HeraCARE is HeraMED‘s Digital Pregnancy Monitoring, software-as-a-service (SaaS) platform that is being co-developed with the Mayo clinic for both home and professional use.

Features:

-          Continuous home measurements and self-monitoring improving pregnancy care.

-          Personalised pregnancy education creating awareness and mother empowerment in preparation for childbirth.

-          Pregnancy lifestyle guidance promoting healthy nutrition and exercise.

-          4/7 midwifery consultancy answering any concerns and enabling early detection of pregnancy complications.

-          Online social support reducing stress and sharing experiences between expecting mothers.

About HeraMED Limited (ASX:HMD):

HeraMED is an innovative medical Data and Technology company leading the digital transformation of prenatal care. HeraMED utilizes the digital health ecosystem including clinical home monitoring devices, cloud computing, artificial intelligence, big data and digital social networking to reshape the Doctor/Patient relationship. The company is revolutionizing the pregnancy experience by empowering personalized, continuous and proactive home monitoring, to deliver better care at a lower cost. Keeping pregnant mothers engaged, informed and well-supported provides reassurance and peace of mind while allowing the healthcare providers to work at their highest levels of ability and enabling early detection of potential risks.