Collaboration agreement with Intuitive

RNS Number : 3505M

Creo Medical Group PLC

23 May 2022

 

Creo Medical Group plc

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

Collaboration agreement with Intuitive

Creo technology to be adapted for use with robotic-assisted surgical platform

Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, announces that it has signed a long-term, multi-year collaboration agreement (the "Agreement") with Intuitive to optimise certain Creo products to be compatible with Intuitive's robotic technology .  Intuitive (Nasdaq: ISRG) is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery.  

Along with the optimisation of Creo's products, the Agreement provides a framework to allow joint clinical studies to be undertaken and includes a number of milestone payments to be made to Creo.  Future royalty structures have also been agreed for any products which may be sold in the future.  

Creo is developing and commercialising a suite of electrosurgical medical devices, each enabled by the CROMA Advanced Energy platform and powered by Kamaptive, full-spectrum adaptive technology to help support surgical capability and patient outcomes. 

Craig Gulliford, Chief Executive Officer of Creo, commented: "We are delighted to announce this exciting collaboration with Intuitive. The combination of Intuitive's robotic platforms and our Kamaptive Technology strives to provide patients with additional treatment options using state-of-the-art technology. The collaboration highlights the versatility of Creo's technology whilst validating the hard work that has been undertaken by Creo's engineering team to bring advanced energy to the field of surgical endoscopy. 

"Technological advancements are facilitating a paradigm shift in the way many surgical procedures are delivered and we look forward to working together to enable additional options for patients using this combined state-of-the-art technology.  As well as exploring technical compatibility, our teams have agreed on commercialisation terms, including clinical and regulatory fundamentals in an open and collaborative environment, to establish what we hope to be a long-lasting collaboration centred around shared goals of using thoughtfully developed technology to help improve patient outcomes. "

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.

This announcement contains inside information.

Enquiries:

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: + 44 ( 0)20 7933 8780 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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