Licensing & Partnership update

RNS Number : 3027Z

Creo Medical Group PLC

24 January 2022

 

Creo Medical Group plc

("Creo" the "Company" or the "Group")

Licensing & Partnership update

Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, provides an update on its Kamaptive Technology ("Kamaptive") licensing and partnership programme.

The Company has entered into non-binding heads of terms (the "HoTs") with a number of parties which relate to the Company's SpydrBlade, Cool Plasma and MicroBlate technologies.  As outlined previously, Creo is developing its business through a three-tiered Build, Buy and Partner strategy.  Having already demonstrated execution on the Build and Buy elements, the Partner strategy aims to create shareholder value through granting third-party access to Creo's advanced energy technology in markets adjacent to those where the Company is already operating. This includes fields such as laparoscopic surgery, robotically assisted surgery, and non-thermal plasma sterilisation.  

The Company considers these HoTs, to be a key milestone in achieving its stated goal of licensing its technology to established, multi-national partners and is in line with the strategy set out at the time of its fundraising last year. Negotiations on final legally binding agreements are underway and Creo is mobilising resources to deliver against its obligations.  The Company will update shareholders as appropriate in due course.

Creo continues to receive considerable interest in its technology.  The Company believes that the parallel applications of its technology provide significant opportunities for growth, and a number of pipeline opportunities under discussion enables Creo to exploit its significant IP portfolio.  With the right partners, the Company believes that Creo's Kamaptive Technology has the potential to accelerate the inevitable change in the way that patients are cared for and treated and, most importantly, improve patient outcomes.

Craig Gulliford, Chief Executive Officer of Creo, commented: "The signing of heads of terms, and the pipeline of interest we have, demonstrates the potential that our technology has to extend into adjacent markets and to generate significant additional, long term, revenue streams. We are mindful to ensure that potential partners share Creo's values and the commitment to improving patient outcomes, as well as identifying adjacent markets which are growing and have the potential to provide long term value creation for our shareholders."

About Kamaptive Technology

Creo is developing and commercialising a suite of electrosurgical medical devices, each enabled by the CROMA Advanced Energy platform, powered by Kamaptive. The Group has developed the Kamaptive powered full-spectrum adaptive technology to optimise surgical capability and patient outcomes. Kamaptive is a seamless, intuitive integration of multi-modal energy sources, optimised to dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue. Kamaptive technology provides clinicians with increased flexibility, precision and controlled surgical solutions.

Enquires:

Creo Medical Group plc	www.creomedical.com
Richard Rees (CFO)	[phone]
Cenkos Securities plc	[phone]
Stephen Keys / Camilla Hume (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Numis Securities Limited (Joint Broker) Freddie Barnfield / James Black / Duncan Monteith	[phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus / Sam Allen  / Phillip Marriage	Mob: [phone]

About Creo Medical 

Creo Medical is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy.

The Company's vision is to improve patient outcomes through the development and commercialisation of a suite of electrosurgical medical devices, each enabled by CROMA, powered by Kamaptive. The Group has developed the CROMA powered by Kamaptive full-spectrum adaptive technology to optimise surgical capability and patient outcomes. Kamaptive is a seamless, intuitive integration of multi-modal energy sources, optimised to dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue. Kamaptive technology provides clinicians with increased flexibility, precision and controlled surgical solutions.  CROMA currently delivers bipolar radiofrequency ("RF") energy for precise localised cutting and focused high frequency microwave ("MW") energy for controlled coagulation and ablation via a single accessory port. This technology, combined with the Group's range of patented electrosurgical devices, is designed to provide clinicians with flexible, accurate and controlled clinical solutions. The Directors believe the Company's technology can impact the landscape of surgery and endoscopy by providing a safer, less-invasive and more cost-efficient option for procedures.

For more information, please refer to the website www.creomedical.com

 

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