Business
Commercialisation Agreement
Commercialisation Agreement.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4076N\n Creo Medical Group PLC\n 20 May 2020\n \n \n \n \n \n \n \n Creo Medical Group plc\n \n \n (\"Creo\" or the \"Company\")\n \n \n \n \n \n Commercialisation Agreement \n \n \n \n \n \n Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of surgical endoscopy, announces that it has signed a commercialisation agreement with the Department of Health and Social Care to provide NHS Hospitals with access to the Company's CROMA Advanced Energy Platform (\"CROMA\") and associated devices for use in Gastrointestinal (\"GI\") therapeutic endoscopy at preferential rates for a limited period.\n \n \n \n \n \n The National Institute for Health Research (\"NIHR\") Invention for Innovation (\"i4i\") Programme supported certain development projects that Creo undertook via a series of funding awards between 2010 and 2015, totalling close to £2 million. In accordance with the terms of such funding, Creo has entered into this commercialisation agreement, which is designed to aid the roll-out of CROMA and accompanying consumable GI devices in the UK. The agreement also provides for training for clinicians and nurses on the use of Creo's suite of advanced energy surgery products.\n \n \n \n \n About CROMA and its suite of GI devices\n \n \n The Company's CROMA Advanced Energy Platform, powered by its unique full spectrum adaptive technology for a suite of matched medical devices, is initially focussed on the emerging field of GI therapeutic endoscopy, an area with high unmet needs. CROMA provides clinicians with flexible, accurate and controlled surgical solutions by delivering bipolar radiofrequency for precise localised cutting and microwave for controlled coagulation to matched miniature flexible devices which the Company believes offers a safer, \n less-invasive\n and more cost-efficient option of treatment than current techniques. The original i4i financial support was granted on the basis that hospitals would make savings per procedure through the use of CROMA and its suite of GI devices.\n \n \n \n \n \n The commercialisation agreement covers the wider suite of Creo's GI devices, namely Speedboat, for precise tissue dissection and ablation; HS1*,a non-stick haemostasis device; and RG*, a bipolar radio frequency scissors de...