A listed HealthTech has requested the suspension of trading in its shares after failing to secure new funding.
Trellus Health plc said it had managed to extend its cash runway into mid-June 2026 through cost-saving measures including further reductions in compensation and the renegotiation of vendor contracts.
It had previously reduced its monthly cash burn to an average of $300k and secured an emergency loan from one of its co-founders.
“The board is, however, mindful that it has not yet been successful in securing long-term funding,” it stated this morning.
“In addition, although the convertible loan note facility provided by Alumni Capital LLC remains in place, utilisation continues to be constrained by current market conditions.”
The firm is behind Trellus Elevate, a digital platform that integrates data analytics with personalised, scientifically proven resilience programmes and value-based solutions to manage complex chronic conditions. It is led by co-founder Marla Dubinsky (pictured).
It added: “Consequently, the board has engaged corporate restructuring advisers to protect stakeholders’ interests, and the board is now evaluating all options including the sale of Trellus Health Inc., the company’s US subsidiary.
“Due to the ongoing uncertainty regarding the company’s financial position, its current limited working capital and the circumstances noted above, the company has requested that its shares are suspended from trading on AIM with effect from 7.30am today.”
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