Trellus Health shares rally after J&J extends contract for 6 months
Trellus Health PLC on Wednesday reported a six-month contract extension with Johnson & Johnson, which is using the Trellus Elevate app for patients with inflammatory bowel disease.
In response, shares in the London-based telemedicine company rose more than doubled to 1.02 pence each on Wednesday morning in London. The stock remains down 47% over the past year, however.
Trellus focuses on chronic disease management, and its tie-up with J&J was signed back in January 2025. This sees the New Brunswick, New Jersey-based pharmaceutical maker providing Trellus Elevate to patients with a J&J prescription to treat inflammatory bowel disease.
The extension is until the middle of 2026 with ‘the same economic terms’ as the initial contract.
‘A key factor in the extension was the achievement of engagement and satisfaction metrics during the initial pilot phase. Based on these metrics, J&J broadened the way patients can access the enrolment channels beyond the initial pilot funnel in mid-January 2026, reflecting continued confidence in the programme’s performance,’ Trellus said on Wednesday.
The firm also noted progress in its TrialSet vertical, which is currently being deployed IN ‘an ongoing, mid-stage immunology and inflammation clinical trial’ in partnership with Irish research organisation ICON PLC, supported by funding from Tokyo’s Takeda Pharmaceutical Co Ltd. Additionally, Trellus is collaborating with PSI Inc on trials sponsored by Paris-based Sanofi SA, with TrialSet to be deployed from the middle of the second quarter.
Marla Dubinsky, co-founder & chief executive of Trellus, commented: ‘The extension of our collaboration with J&J represents further external validation of our platform and the engagement outcomes achieved during the pilot phase.’
Dubinsky continued: ‘We are establishing a scalable go-to-market model for pharma, with continued focus on disciplined execution, recurring revenue growth and expansion across immunology and inflammation. We look forward to updating the market on further developments.’
Trellus backed its full-year revenue target of $545,000, and noted a previously announced convertible loan of £5 million. It expects a £737,500 gross principal amount from the first two tranches thereof, extending its cash runway to late in the first quarter of 2026. Talks for further funding are ongoing, Trellus said. It sees improved recurring revenue visibility over the course of 2026.
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