Pharmacy Daily | MedAdvisor’s ASX debut

MEDICATION adherence platform MedAdvisor has successfully listed on the Australian Stock Exchange, with the company trading under ticker code MDR. The listing follows a “reverse takeover” of Exalt Resources Limited, with the $5 million initial public offering oversubscribed. Confirming the successful float, MedAdvisor ceo Robert Read also announced a new medication training relationship with Amgen, which currently markets eight products in Australia for the treatment of illnesses including cancer, kidney and bone disease. “As a company we’ve achieved a lot in a short space of time, including establishing important marketing partnerships with pharmaceutical companies GSK, AstraZeneca, UCB and Apotex and most recently Amgen,” Read said. “We are very pleased to be working with Amgen and view this as yet another industry validation of our technology and its efficacy.” MedAdvisor’s software platform aims to assist individuals to monitor their medication use, connecting to their pharmacy of choice, automatically receiving medication records and activating an “intelligent training, information and reminder system to ensure correct and reliable medication use,” Read said. About 25% of Australian pharmacies are subscribers to the MedAdvisor platform, with strong support from pharmacists who participated in the capital raising. Read said there are also now more than 100,000 users managing their medications via the MedAdvisor app. The funds from the float will be deployed to attract consumers to the platform, while MedAdvisor will also aim to increase its presence within NSW and boost its support and endorsement by large pharmacy groups. Read said a number of hospitals had also indicated interest in activating patients on MedAdvisor.

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