Deltex awarded EU Horizon 2020 Phase 1 grant

RNS Number : 4702D

Deltex Medical Group PLC

27 April 2017

 

27 April 2017

Deltex Medical Group plc

("Deltex Medical", "Deltex" or "the Company")

Deltex awarded EU Horizon 2020 Phase 1 grant

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM"), is pleased to announce that it has been awarded a grant of €50,000 under the EU's Horizon 2020 programme which finances feasibility studies for bringing new products on to the market.

Per the European Commission's announcement (http://ec.europa.eu/unitedkingdom/news/sixteen-uk-smes-receive-eu-funding_en).

"Deltex and Lariboisiere Hospital Paris have developed a system called TruVue which provides simultaneous visual display of a patient's aortic blood flow velocity and aortic blood pressure. It is expected to significantly contribute to patient safety. The EU funding will help Deltex test the system with users and collect feedback about their experience with the user interface, Graphical User Interface (GUI). It will also help work out the price of a multinational clinical trial for a phase 2 application."

"Phase 1 funding of €50,000 may be followed by up to €2.5 million under Phase 2."

The Phase 1 grant is expected to be received in H1 2017. The Company will be eligible to apply for Phase 2 as soon as it is able to demonstrate success from the feasibility work.

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

"We are delighted to receive this endorsement and the potential for the larger Phase 2 award, although there can be no certainty as to if, or when this may come to fruition. The Phase 1 grant coincides with our plan to release the Velocity Pressure loop software, developed in partnership with Labroisiere Hospital in Paris, to select clinical experts in the second half of the year for clinical trials.

"The software is predicated on the CardioQ-ODM+'s unique ability to measure continuously both central blood flows and arterial blood pressure. Doing this enables new insights for clinicians into changes in patients' vascular resistance and compliance."

For further information, please contact:-

Deltex Medical Group plc	01243 774 837 [e-mail]
Nigel Keen, Chairman
Ewan Phillips, Chief Executive
Jonathan Shaw, Group Finance Director
Nominated Adviser & Broker
Arden Partners plc	020 7614 5900
Chris Hardie
Financial Public Relations
IFC Advisory	0203 053 8671
Tim Metcalfe Graham Herring Heather Armstrong

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's ODM is the only technology to measure continuously 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.

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 around 700,000 patients have been treated to date using Deltex Medical's single patient disposable probes.

 

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