Licensing agreement with US University

RNS Number : 7407K

Inspiration Healthcare Group PLC

18 December 2018

 

18 December 2018

Inspiration Healthcare Group plc

("Inspiration Healthcare", the "Company" or the "Group")

Licensing agreement signed with

US Based University for respiratory device

Inspiration Healthcare Group plc (AIM: IHC), the global medical device company is pleased to announce that it has signed and an exclusive agreement with a major US based university for the world wide rights to develop and commercialise a patented respiratory device designed for use in neonatal intensive care.

It is expected that the device, which has been used in early stage research studies will be developed over the next 12 months.  It could be submitted for CE marking and FDA approval during the course of next year and will, in time, join Inspiration's other leading products designed to improve patients' outcomes in the field of neonatal intensive care.

The cost of the agreement has been satisfied from existing resources dedicated to research and development. 

Commenting, Neil Campbell, Inspiration Healthcare's Chief Executive said:

"We are extremely proud to have signed this agreement with a prestigious university in the United States of America and to have secured the rights to this medical technology that will put us at the forefront of the very latest "know how" in the neonatal respiratory care. To know we can work with such a prestigious institution shows that our values are understood around the world as we strive to improve the outcomes of sick and premature babies.

There is a lot of hard work ahead to turn this idea into a licenced medical device but it is very much in keeping of our corporate philosophy of working with the world's leading medical research teams and securing the rights to the devices they are developing. Although the device will not be available for some time, we are excited about the opportunities it will give us to remain leaders in this specialised field."   

Enquiries:

Inspiration Healthcare Group plc Neil Campbell, Chief Executive Officer Mike Briant, Chief Financial Officer	Tel: [phone]
Nominated Adviser & Broker Cenkos Securities plc Stephen Keys	Tel: [phone]
Cadogan PR             Alex Walters	Tel: [phone]

About Inspiration Healthcare

Inspiration Healthcare (AIM: IHC) is a global supplier of medical technology for critical care, operating theatre and other medical applications. The Company provides high quality innovative products to patients and caregivers around the world that help to improve patient outcomes and efficiencies of healthcare organisations with patient focused customer service and technical support.

The Company's own brand of critical care solutions span non-invasive respiratory management, thermoregulation and diagnostics, and patient warming for newborns through to adults in intensive care and the operating theatre, whilst the distribution business supplies solutions to support specialised surgical procedures and infusion therapies.

Present in over 50 countries worldwide, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving the quality of life of patients, working in close collaboration with key opinion leaders and stakeholders in the clinical and medical community across the globe.

Further information on Inspiration Healthcare can be seen at www.inspiration-healthcare.com

 

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