REG - Creo Medical Group - Collaboration agreement with Intuitive

Creo MedicalAnnouncement

23/05/2022 07:00

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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 (http://www.creomedical.com)
 Richard Rees (CFO)                                  +44 (0)1291 606 005

 Cenkos Securities plc                               +44 (0)20 7397 8900
 Stephen Keys / Camilla Hume (NOMAD)
 Michael Johnson / Russell Kerr (Sales)

 Numis Securities Limited (Joint Broker)             +44 (0)20 7260 1000

 Freddie Barnfield / James Black / Duncan Monteith

 Walbrook PR Ltd                                     Tel: +44 (0)20 7933 8780 or creo@walbrookpr.com
 Paul McManus / Sam Allen /                          Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258 / +44 (0)7867 984 082

 Phillip Marriage

 

 

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
(http://www.creomedical.com)

 

 

 

 

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