New UK Government R&D funding secured

RNS Number : 0234R

Deltex Medical Group PLC

24 June 2015

 

24 June 2015

Deltex Medical Group plc

("Deltex Medical" or "the Company")

New UK Government R&D funding secured

Deltex Medical Group plc, the global leader in oesophageal Doppler monitoring ("ODM"), announces that it has been awarded its first grant by Innovate UK, the UK's innovation agency, to support the funding of the Company's research and development programme.

The grant covers 35% of eligible costs on a defined project aimed at developing and commercialising an innovative approach to the non-invasive acquisition of haemodynamic data from patients. The Company estimates that the grant will be worth up to approximately £170,000 between June 2015 and planned completion of the project in the second half of 2016.

The grant has been awarded by Innovate UK, an executive non-departmental public body, sponsored by the UK Department for Business, Innovation & Skills responsible for providing new support for innovative small and medium-sized enterprises (SMEs) with high-growth potential.

Ewan Phillips, Deltex Medical's Chief Executive, commented:

"We are delighted that our grant application was successful. This will help us bring our next generation of innovative haemodynamic monitoring products to market more quickly to meet the growing clinical demand in many countries for enhanced haemodynamic monitoring."

For further information, please contact:-

Deltex Medical Group plc	01243 774 837
Nigel Keen, Chairman	[e-mail]
Ewan Phillips, Chief Executive
Barry Curtis, Company Secretary
Nominated Adviser & Broker
Arden Partners plc	020 7614 5900
Chris Hardie
Joint Broker
Zeus Capital Limited	020 7533 7727
Phil Walker
Dominic Wilson
Financial Public Relations
Newgate	020 7653 9850
Tim Thompson
Robyn McConnachie Ed Treadwell

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's ODM is the only technology to measure blood flow in the central circulation in real time. Minimally invasive, easy to set up and quick to focus, the technology generates a low-frequency ultrasound signal, which is highly sensitive to changes in flow and measures them immediately. Deltex has been the only company in the enhanced haemodynamic space to build a robust and credible evidence base proving the clinical and economic benefits of its core technology, ODM. Randomised, controlled trials using Doppler have demonstrated that early fluid management intervention will reduce post-operative complications, reduce intensive care admissions, and reduce the length of hospital stay.

During 2013, the Company launched the CardioQ-ODM+ monitor that offers clinicians both of the two best-established technologies, Deltex Medical's ODM technology as well as Pulse Pressure Waveform Analysis ('PPWA') in one monitor. This allows clinicians to have unique real time insights into each of flow, pressure and resistance, the three pillars of haemodynamics.

Company goal

ODM is increasingly recognised as a standard of care for patients undergoing major surgery and in critical care. The broader clinical area of haemodynamic management of which ODM is a core constituent is also now becoming widely accepted as an important major new medical modality. Consequently, the Company's focus is on maximising value from the opportunities presented as enhanced haemodynamic management is adopted into routine clinical practice around the world.

The Company is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK, USA, Spain and Canada and through distribution arrangements in a further 30 countries.

There are over 3,200 monitors installed in hospitals around the world and over 600,000 patients have been treated to date using Deltex Medical's single patient disposable probes.

Innovate UK

Innovate UK is the new name for the Technology Strategy Board - the UK's innovation agency. Taking a new idea to market is a challenge. Innovate UK funds, supports and connects innovative businesses through a unique mix of people and programmes to accelerate sustainable economic growth. For further information visit www.innovateuk.org.

 

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