RCS - InnoMed Tech Ltd. - Corporate Update
10/12/2024 10:45
For best results when printing this announcement, please click on link below: https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241210:nRSJ5130Pa&default-theme=true RNS Number : 5130P InnoMed Tech Ltd. 10 December 2024 Innomed Tech Ltd. Corporate Update Innomed Tech Ltd. (BC Canada) (the "Company") is pleased to announce the following corporate update on the development of PureFlowCath Catheter development to market. The Company is developing the PureFlowCath Catheter System to provide continuous irrigation (CSCI) with the objective of reducing urinary tract infections commonly associated with the use of a urinary catheter. Following the successful European Patent award recently and the completion of initial phase of development, the Company has appointed Cambridge Consulting to progress the full design and development of the PureFlowCath Catheter. The development process will follow US Federal Drug Administration (FDA) Recommended Waterfall Medical Device Design Process to Market. The Company development costs are largely funded by proceeds raised by CIC Fund Securitisation S.A. (http://www.securitisation.com/) (Luxembourg) finance. Mr. Billy Williams bwilliams@innomedtec.com (mailto:bwilliams@innomedtec.com) Mr. Stuart J. Bromley +33 (0) 788 26 80 35 Bromley@CICCapital.com (mailto:Bromley@CICCapital.com) www.Innomedtec.com (http://www.Innomedtec.com) Innomed Tech Ltd. The Company's first medical device development subsidiary, PureFlowCath, is developing the PureFlowCath Catheter System to provide continuous irrigation (CSCI) with the objective of reducing urinary tract infections commonly associated with the use of a urinary catheter. Catheter associated urinary tract infection (CAUTI) is the most frequent healthcare associated infection (HAI) worldwide. It accounts for up to 40% of all hospital acquired infections and results in over 13,000 deaths annually in the United States alone according to data from the Centre's for Disease Control and Prevention (CDC). The Company is progressing a listing on a regulated, designated stock exchange through a Non-Offering Long Form Prospectus. About Cambridge Consulting Cambridge Consulting founded in 1960 are innovating in some of the most prominent deep tech fields, including artificial intelligence, biotechnology, smart connectivity, green-tech and sustainability, advanced sensing, photonics and quantum computing. Cambridge Consulting tackle the world's toughest healthcare challenges, developing novel products, platforms and ecosystems to improve outcomes, care delivery, patient experience, and healthcare value. Cambridge Consulting have deep experience developing medical devices across a range of clinical applications. Cambridge Consulting parent is Capgemini SE a French publicly listed multinational information technology services and consulting company headquartered in Paris, France. This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NRAFFISUSELSEDE