Business
Half-year Report
Half-year Report.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n\nCreo Medical Group plc\n(\"Creo\", the \"Group\" or the \"Company\")\n \nHalf-year Report\n \nCore technology revenue for H1-2023 equal to entirety of FY-2022; slimmer Speedboat Inject drives sharp increase in treated patients and trained doctors\n \nCreo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of minimally invasive surgical endoscopy, announces its unaudited results for the six-month period ended 30 June 2023.\n \nOperational and commercial highlights:\n· Revenue growth driven by sharp increase in adoption of Creo's Core technology, underpinned by growing revenue from Creo's Endotherapy consumables business\n· Progress in roll-out of Creo's Core technology:\no 42% increase in the volume of procedures of Speedboat Inject vs. H2-2022\no 44% increase in user base from December 2022\no 65% increase in the number of clinicians able to provide training from 31 December 2022\n· Medical Device Regulation (\"MDR\") CE clearance for Speedboat Inject, adding upper gastrointestinal (\"GI\") use (e.g. swallowing disorders, oesophageal and stomach cancers) in the UK and mainland Europe\n· First use of Speedboat Inject in Croatia, Slovenia, Malaysia and the United Arab Emirates, with Creo's Core technology having now been used in over 20 countries\n· Key product and patient milestones reached:\no Slimmer Speedboat Inject achieving excellent clinical results\no Most significant data set for Speedboat Submucosal Dissection (\"SSD\") procedures to date, showing an 82% curative rate for lower GI lesions (e.g. bowel and colon) with no perforations recorded\no First sales of Endotherapy consumables in the US\no First in-human use of MicroBlate Flex for the microwave ablation of soft tissue lung lesions safely completed as part of a lung tissue ablation clinical study\n· Speedboat Inject selected by the National Institute for Health and Care Excellence (\"NICE\") to be scoped and routed for guidance\n· Ongoing discussions with third parties on potential new, and expansion of existing, Kamaptive licensing opportunities\n \nFinancial highlights:\n· Revenue of £15....