REG - Deltex Med Grp PLC - Successful Innovate UK Smart Award

Deltex MedicalAnnouncement

20/12/2021 07:00

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RNS Number : 1187W  Deltex Medical Group PLC  20 December 2021

20 December 2021

Deltex Medical Group plc

("Deltex Medical" or the "Group")

Notification of a successful Innovate UK Smart Award with

a gross value of £494,000 (net £346,000)

Total gross value of successful grant notifications in 2021 amounts to

£0.6 million (net £0.4 million)

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler
Monitoring, announces that its UK subsidiary, Deltex Medical Limited ("DML"),
has been notified of a successful UK Smart Award application by Innovate UK.

Notification of grant awards this year

This Innovate UK Smart Award relates to the development of an innovative,
hand-held, non-invasive ultrasound device for improved haemodynamic management
of hospitalised patients. Notification was received on 17 December 2021 that
DML has been successful in this application, subject to final approval by
Innovate UK:

§ Innovate UK is part of UK Research and Innovation, an organisation funded
by the UK government which works in partnership with universities, research
organisations, businesses, charities and government to promote research and
innovation; and

§ the total gross eligible project costs for the Smart Award are £494,000,
of which 70% (£346,000) will be reimbursed to DML by Innovate UK, with the
balance funded from the Group's own financial resources over the estimated
eighteen-month project duration.

During 2021 DML has also been awarded two other grants by Innovate UK to help
it with the development of its new, real-time, easy-to-use, non-invasive
haemodynamic monitoring technology:

§ it has won a £50,000 A4I award which is 100% funded. DML is collaborating
with the National Physics Laboratory on this project; and

§ it has also been awarded a Growth Support Account Scale Up Grant with a
gross value of £24,000 (net £14,000).

The total gross value of the eligible project costs covered by these three
awards is £568,000 of which £410,000 (net) is available for reimbursement to
DML in relation to eligible expenditure. The balance of £158,000 will be
funded by the Group from its own resources.

Deltex Medical's new easy-to-use non-invasive haemodynamic monitoring
technology

Clinicians currently lack a simple-to-use, real-time, reliable and
non-invasive way of rapidly and accurately measuring the haemodynamic status
of their patients which is required to help select an optimised clinical
pathway.

Deltex Medical is continuing to develop its market-leading ultrasound
haemodynamic monitoring technologies by introducing a non-invasive Doppler
device into the next generation TrueVue monitor. This technology development
draws upon the substantial body of published research relating to the Group's
minimally-invasive TrueVue Doppler system which is already in use in surgery
as well as intensive care units around the world.

The first iteration of the non-invasive haemodynamic monitoring technology
will be available on Deltex's new TrueVue monitor to be launched in H1 2022
and will be sold into a broad range of hospital departments, including:
Surgery; Accident & Emergency; pre-surgical assessment; obstetrics;
cardiology and critical care.

The Group believes that this new technology, used in conjunction with the
appropriate treatment protocols, will improve patient outcomes, reduce
hospital stays, help increase the efficiency of healthcare workers and deliver
significant savings to the health system. It should also help facilitate the
rapid diagnosis of the potential for serious illness in COVID-19 patients.

The Smart Award announced by Innovate on 17(th) December will allow Deltex to
continue to  develop the non-invasive technology to improve the signal
acquisition and processing. The new award complements the grant awarded in
November 2021 in which Deltex is collaborating with the National Physics
Laboratory to improve the design of the ultrasound probe face.

 

Andy Mears, Deltex Medical's CEO, commented:

 "I am absolutely delighted we have been successful in winning a number of
awards this year from Innovate UK, including notification of a prestigious
Innovate UK Smart Award."

"We believe that the Innovate UK Smart Award helps to underscore the potential
for our new non-invasive technology to improve significantly haemodynamic
treatment protocols for all patients.

"We have been working to make our gold standard haemodynamic monitoring
technology available in a completely non-invasive format to broaden the
clinical settings in which the technology can be applied. The release of our
new TrueVue monitor planned for the end of H1 2022, allows us to launch this
new non-invasive technology and these grant awards will enable us to
accelerate the development of the incremental clinical settings in which the
devices will be used"

"The award of three grants this year helps to highlight the commercial and
technological potential for Deltex Medical's unique range of haemodynamic
monitoring technologies."

 

For further information, please contact:

 Deltex Medical Group plc                                        01243 774 837

 Nigel Keen, Chairman                                             investorinfo@Deltexmedical.com (mailto:investorinfo@Fitbitmedical.com)
 Andy Mears, Chief Executive
 Natalie Wettler, Group Finance Director

 Nominated Adviser and Broker                                    020 7614 5900

 Arden Partners plc
 Paul Shackleton                                                  info@arden-partners.com (mailto:info@arden-partners.com)
 Benjamin Onyeama-Christie

 Joint Broker
 Turner Pope Investments (TPI) Ltd                               0203 657 0050
 Andy Thacker                                                     info@turnerpope.com (mailto:info@turnerpope.com)

 James Pope

 

 

 

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies
which are primarily used in critical care and general surgical procedures.
Deltex Medical's proprietary oesophageal Doppler monitoring ("ODM")
(TrueVue Doppler) measures blood flow velocity 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 blood flow and measures such changes in 'real time'.
Deltex Medical is the only company in the enhanced haemodynamic monitoring
space to have built a robust and credible evidence base demonstrating both the
clinical and economic benefits of its core technology: TrueVue Doppler. This
technology has been proven in a wide range of clinical trials to reduce
complications suffered by patients after surgery and consequently can save
hospitals money.

Deltex Medical's TrueVue System on the CardioQ-ODM+ monitor platform now
provides clinicians with two further advanced haemodynamic monitoring
technologies. TrueVue Impedance is an entirely non-invasive monitoring
technology that transmits low magnitude, high frequency electrical signals
through the thorax and measures the changes to this signal when the heart
pumps blood. TrueVue PressureWave uses the peripheral blood pressure signal
analysis to give doctors information on changes in the circulation and is
particularly suited to monitoring lower risk or haemodynamically stable
patients.

Deltex Medical is also designing the next generation of non-invasive Doppler
ultrasound devices that will be released onto the TrueVue platform and will
accurately measure the awake patient's haemodynamics anywhere across the
hospital setting.

Clinicians would like to be able to measure the haemodynamic status of awake
patients not only in the operating room and intensive care departments.  Our
R&D programmes will provide the capability for our devices to be used in
A&E, on the ward or outside the hospital.

 

The Group is focussed on maximising value from the opportunities associated
with the current pressures on healthcare systems throughout the world. The
COVID-19 pandemic requires different care pathways for awake patients and has
increased the elective surgery backlog.  These considerations have raised the
profile of haemodynamic monitoring leading to the recent consolidation in the
sector.

 

Group goal

Haemodynamic management is now becoming widely accepted as a vital part of the
anaesthesia protocols for surgical patients, as well as treating ventilated
intensive care patients, including ventilated COVID-19 patients. There is also
a desire to start measuring haemodynamics on awake patients outside of the
operating room or intensive care departments, such as the ward or in A&E
and our R&D programme is very focused on this opportunity. Consequently,
the Group's focus is on maximising value from the opportunities associated
with: the CV-19 pandemic; the elective surgery backlog; awake patients and the
higher profile of haemodynamic monitoring which has arisen from the recent
consolidation in the sector.

The Group aims to provide clinicians with a modern, next generation, single
'haemodynamic workstation' platform which offers them a range of technologies
from simple to sophisticated to be deployed according to the patient's
clinical condition as well as the skill and expertise of the user. Doing this
will enable the Group to partner with healthcare providers to support modern
haemodynamic management across the whole hospital.

The Group is currently in the implementation phase of achieving this goal in a
number of territories worldwide, operating directly in the UK and the USA, and
via agreements with approximately 40 distributors overseas.

 

Innovate UK

Innovate UK drives productivity and economic growth by supporting businesses
to develop and realise the potential of new ideas.

They connect businesses to the partners, customers and investors that can help
them turn ideas into commercially successful products and services and
business growth.

They fund business and research collaborations to accelerate innovation and
drive business investment into R&D. Their support is available to
businesses across all economic sectors, value chains and UK regions.

Innovate UK is part of UK Research and Innovation. For more information visit
https://www.ukri.org/councils/innovate-uk/

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