AdhereTech Appoints Innes Meldrum as President and Chief Executive Officer – Biotech Investments

AdhereTech Appoints Innes Meldrum as President and Chief Executive Officer
 

• Brings significant experience in successfully commercializing novel products in both the pharmaceutical and technology industries
• Will drive company as it grows and brings its technology to market

New York, NY, September 6, 2023. AdhereTech, Inc., a leading digital healthcare company focused on building cloud-based software and devices that seamlessly connect patients to care, today announces that Innes Meldrum has been appointed President and Chief Executive Officer. He is succeeding Chris O’Brien, who will support Innes in the next phase of the Company’s growth.

Innes Meldrum has nearly 30 years of global experience in the pharmaceutical and technology industries.  He most recently served as Chief Executive Officer of Reset Pharmaceuticals.  Prior to this, he served as Senior Vice President and Chief Commercial Officer for Otsuka Pharmaceuticals North America. In this role, he was responsible for all commercial activities, including Otsuka’s psychiatry business and the commercialization of CNS drugs such as Abilify Maintena^®. Before this, he served as Commercial Vice President at Orexo, focused on addiction medicine, and prior to this spent 11 years in commercial roles of increasing responsibility at Novartis in the US, as well as within the global organization based in Switzerland.

“We are delighted to have Innes join AdhereTech,” said Neale Trangucci, Chair of the Board. “He is a highly experienced international life sciences and technology executive who has led cross-functional development and commercialization teams, having successfully launched and marketed both medicines and technologies in his career. His proven track record and ability to develop top-notch teams will be vital for the Company as we prepare for the next phase of growth. I warmly welcome Innes and look forward to working with him. I also would like to thank Chris O’Brien for his leadership and am pleased he will advise Innes and the Company going forward.”

Daniel Raynor, Managing Partner and Co-founder of Argentum, AdhereTech’s main investor, said, “We believe Innes’ successful track record in both the pharma and technology spaces of developing and commercializing innovative, patient-focused solutions will lend itself well to establishing AdhereTech as the market leader in providing technologies to address medication management and adherence challenges.”

Innes Meldrum, President and Chief Executive Officer, commented, “I am excited to join AdhereTech as the Company grows its footprint and impact and look forward to working with the team to accelerate the positive patient impact of AdhereTech’s technologies.”

In addition to causing unnecessary health complications for patients, nonadherence to medication regimens costs the pharmaceutical industry hundreds of billions of dollars[i] per year.

About AdhereTech, Inc.
AdhereTech is a New York-based digital health company and the leading provider and pioneer of smart devices that connect patients to care via real-time interventions. AdhereTech partners with pharmaceutical manufacturers, specialty pharmacies and healthcare teams with the mission of using technology informed by insights into human behavior to improve health outcomes. The Company provides commercialized digital solutions to measure and manage medication adherence in a variety of settings, including academics, clinical trials, and commercially prescribed treatments. It develops and produces treatment management solutions utilizing smart devices with integrated cellular technology that, seamlessly, connects patients in real time to confirm when patients take their medication and provides two-way communications to ensure dosing regimens are followed and reports and escalates the reasons for missed doses. Its Aidia System^TM is a proven, integrated technology-based adherence solution that empowers patients and healthcare teams to achieve optimal medication success. For more information, please visit us at www.adheretech.com. You can also follow us on LinkedIn and Twitter, @AdhereTech.

Abilify Maintena^® is a registered trademark of Otsuka Pharmaceutical Co., Ltd.

For further information please contact:

AdhereTech, Inc.
Innes Meldrum
President and Chief Executive Officer
i.meldrum@adheretech.com

^[i] Moore, Chawla, Firlik, “Estimated annual pharmaceutical revenue loss due to medication non-adherence,” CapGemini Consulting/Health Prize Technologies, 2016, www.prnewswire.com/news-releases/pharmaceutical-companies-lose-637- billion-in-revenue-annually-due-to-medication-nonadherence-300363979.html