Adherium (ASX:ADR) received firm commitments to raise AU$900,000 through the issuance of roughly 900,000 convertible notes, according to a Monday filing with the Australian bourse.

Investors will receive one attaching option for every two shares issued under the convertible notes.

Phillip Asset Management and Trudell Medical each committed AU$450,000. Trudell Medical is a company associated and controlled by Adherium director George Baran, per the filing.

The notes bear an interest of 10% per annum and will mature nine months from the date of issue.

Funds will be used to support the ongoing roll-out of Adherium's proprietary Hailie smart inhaler platform in the US, the filing stated.

Adherium's shares tumbled 13% to an all-time low in recent trade.