REG - Creo Medical Group - Licensing & Partnership update

Creo MedicalAnnouncement

24/01/2022 07:05

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RNS Number : 3027Z  Creo Medical Group PLC  24 January 2022

Creo Medical Group plc

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

 

Licensing & Partnership update

 

Creo Medical Group plc (AIM: CREO), a medical device company focused on the
emerging field of surgical endoscopy, provides an update on its Kamaptive
Technology ("Kamaptive") licensing and partnership programme.

 

The Company has entered into non-binding heads of terms (the "HoTs") with a
number of parties which relate to the Company's SpydrBlade, Cool Plasma and
MicroBlate technologies.  As outlined previously, Creo is developing its
business through a three-tiered Build, Buy and Partner strategy.  Having
already demonstrated execution on the Build and Buy elements, the Partner
strategy aims to create shareholder value through granting third-party access
to Creo's advanced energy technology in markets adjacent to those where the
Company is already operating. This includes fields such as laparoscopic
surgery, robotically assisted surgery, and non-thermal plasma sterilisation.
 

 

The Company considers these HoTs, to be a key milestone in achieving its
stated goal of licensing its technology to established, multi-national
partners and is in line with the strategy set out at the time of its
fundraising last year. Negotiations on final legally binding agreements are
underway and Creo is mobilising resources to deliver against its
obligations.  The Company will update shareholders as appropriate in due
course.

 

Creo continues to receive considerable interest in its technology.  The
Company believes that the parallel applications of its technology provide
significant opportunities for growth, and a number of pipeline opportunities
under discussion enables Creo to exploit its significant IP portfolio.  With
the right partners, the Company believes that Creo's Kamaptive Technology has
the potential to accelerate the inevitable change in the way that patients are
cared for and treated and, most importantly, improve patient outcomes.

 

Craig Gulliford, Chief Executive Officer of Creo, commented: "The signing of
heads of terms, and the pipeline of interest we have, demonstrates the
potential that our technology has to extend into adjacent markets and to
generate significant additional, long term, revenue streams. We are mindful to
ensure that potential partners share Creo's values and the commitment to
improving patient outcomes, as well as identifying adjacent markets which are
growing and have the potential to provide long term value creation for our
shareholders."

 

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.

 

Enquires:

 

 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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