HealthBeacon PLC HealthBeacon - HBCN - Global Patient Safety Technology Platform

Healthbeacon

23/11/2022 07:00

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RNS Number : 2769H  HealthBeacon PLC  23 November 2022

HealthBeacon Deploys its Global Patient Safety Technology Platform across the
NHS in the UK and the Pharmaceutical Industry in Ireland, Australia, and New
Zealand

 

Dublin, 23 November 2022: HealthBeacon plc, a leader in devices and software
to manage critical and chronic medications, is pleased to announce its Global
Patient Safety Platform, a new proprietary software platform to help cancer
patients take their medication more safely. This platform has been developed
over the last two years in collaboration with the pharmaceutical industry and
has been recently approved by regulators in both the UK and Ireland and is
scheduled to launch in Australia and New Zealand. The platform is designed to
replace a paper-based system to ensure the right people get access to the
right drugs and drive down the cost of administration.

 

The platform creates a new recurring revenue stream for HealthBeacon, where
pharmaceutical manufacturers pay a licensing fee for access to the system,
which helps them meet their regulatory requirements and ensures access to
critical medications. HealthBeacon anticipates the technology will support
more than 1,000 patients by the end of 2022.

 

The technology leverages HealthBeacon's existing patient software platform and
its ability to improve clinical processes and access to medications by
partnering with the pharmaceutical and healthcare providers. To date more than
800 pharmacies have already adopted the system across Ireland and the UK and
12 pharmaceutical companies have bought licenses to replace their paper-based
system with HealthBeacon's streamlined software. This project has been an
example of a positive collaboration between innovators, regulators, industry
associations and the manufacturers to improve access, quality of care and
reduce the cost of administration.

 

The first drug to be prescribed on the platform is Lenalidomide, used to treat
certain cancers. If Lenalidomide is taken during pregnancy, it poses a risk of
birth defects. Using a series of electronic checks and balances,
HealthBeacon's platform ensures the medication cannot be dispensed until a set
of agreed safety protocols have been validated.

 

Ultimately, the platform reduces the potential for human error associated with
traditional prescription methods. It reduces paperwork and streamlines the
prescription process for doctors, pharmacists, and pharmaceutical
manufacturers, while also making it easier for them to comply with regulatory
requirements.

 

Commenting, HealthBeacon plc co-founder and CTO, Kieran Daly, said: "The
Patient Safety Platform is a natural progression for HealthBeacon. Our digital
therapeutics systems are designed to boost health outcomes for patients. Our
Smart Sharps Bin has been designed to ensure patients take their injectable
medication in the most effective way. Now we are using our expertise to design
a new software platform ensuring the best outcomes for cancer patients from
their medication."

 

In Ireland, the Patient Safety Platform has been developed in collaboration
with four major pharmaceutical manufacturers: Mylan, Teva, Accord and Clonmel
Healthcare. These manufacturers have come together to help build a platform
that enables them to meet their regulatory obligations to ensure Lenalidomide
is tracked and dispensed safely while reducing patient burden.

 

The platform is being used by the National Health Service (NHS) in the UK,
having received approval from the Medicines and Healthcare Products Regulatory
Agency (MHRA). Pharmaceutical manufacturers, hospitals and pharmacists have
joined the platform in the UK.

 

In Ireland, the system is approved by the Health Products Regulatory Authority
(HPRA) and is the only system of its kind to be whitelisted by the Health
Service Executive (HSE), meaning it can directly contact every pharmacy in the
country. It is currently being used by 100s of pharmacists to help patient's
access this critical medication safely.

 

 Enquiries:
 HealthBeacon:                                    Investor.Relations@HealthBeacon.com

                                                (mailto:Investor.Relations@HealthBeacon.com)
 Laurence Flavin

 Goodbody (Euronext Listing Sponsor and Broker):  +353 (1) 667 0420

 David Kearney
 Stephen Kane

 Drury (Public Relations):
 Cathal Barry                                     +353 (0) 87 227 9281

 Gavin McLoughlin                                 +353 (0) 86 035 3749

 

About HealthBeacon

Headquartered in Dublin, HealthBeacon is an Irish digital therapeutics company
that develops smart tools for managing medications for patients in the home.
The HealthBeacon Injection Care Management System tracks adherence and
persistence with medication schedules through the provision of medication
management reminders, safe and sustainable sharps disposal devices,
educational tools, and artificial intelligence (AI) driven data analytics.
Peer reviewed evidence supports a 19% improvement in therapy persistence by
patients and up to 26% improvement in adherence to therapy, which improves
clinical outcomes and significantly improves efficiency in health systems. The
Company has expanded its offering to growth management with the launch of its
integrated Smart Scale and oral adherence with the launch of HB Wave which
integrates with its existing technology. The Company operates across Europe,
North America and the United Kingdom and employs more than 70 people and has
obtained more than 30 design and utility patents. The Company's mission is to
become the world's leading digital therapeutics platform for patients managing
medications in the home.

 

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