Igraine Plc Fixit Medical Ltd Year End Update

 
TIDMKING 
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO 
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION 
(EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS 
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE 
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
Igraine plc 
 
AQSE: KING 
 
("Igraine" or "the company") 
 
Fixit Medical Ltd Year End Update 
 
The Board of Igraine (AQSE:KING), an investing company focused on breakthrough 
innovative technologies and discoveries in the healthcare and life sciences 
sectors, is delighted to provide a year-end update on our investment in Fixit 
Medical ltd ("Fixit") and its next generation drainage catheter fixation device 
(Cingo®). 
 
Further information on Fixit 
 
Fixit is the sole owner, designer, and developer of Cingo®-the next-generation 
drainage catheter fixation device. Cingo® is distinguished by its best-in-class 
catheter securement with a pull-force dissipating design whilst offering an 
estimated two-week wear time. In addition, the revolutionary design prevents 
catheters from twisting and kinking along with enhancing visibility and easy 
cleaning of the catheter exit site. Additionally, Cingo® features a breakthrough 
integral shower-safe feature greatly improving quality of life and dignity for 
patients. 
 
Update 
 
Since the announcement of Igraine's investment in February 2023, Fixit has made 
significant progress toward the commercialisation of Cingo®. In collaboration 
with MDM Management Ltd, the device underwent further development and 
refinement, ensuring cost-effective mass production. 
 
During the first 3 months of 2024 we anticipate completing the first run of 
injection-moulded prototypes, marking the commencement of comprehensive 
laboratory testing. 
 
The Cingo® device is protected by patents granted in the USA, Europe, and other 
key jurisdictions internationally.  Additionally, in December 2023, Fixit 
initiated a further patent family protecting the optimised design of the device 
which, if granted, will provide patent protection until 2044. Brand Murray 
Fuller LLP has been appointed as the company's patent and trademark attorneys. 
 
In parallel Fixit is diligently preparing the technical dossier for ISO 13485 in 
anticipation of the BSI audit scheduled for the middle to latter part of 2024. 
Following this Cingo® will be ready for commercialisation. 
 
Fixit Medical will be attending this year's Arab Health Congress at the end of 
January to begin the process of introducing the product to interested 
international parties. 
 
Simon Grant-Rennick, Director of Igraine, commented: 
 
"We appreciate your ongoing support and commitment to our shared vision of 
advancing healthcare through innovative solutions. As we embark on the exciting 
journey towards commercialisation, we look forward to achieving new milestones 
and delivering value to our shareholders." 
 
The Directors of the Company, who have issued this RIS announcement after due 
and careful enquiry, accept responsibility for its content. 
 
Enquiries 
 
Company: 
 
Steve Winfield (Executive Director) 
 
[e-mail] 
 
Simon Grant-Rennick (Non-Executive Director) 
 
[e-mail] 
 
Investor relations : [e-mail] 
 
Aquis Growth Market Corporate Adviser: 
 
Peterhouse Capital Limited 
 
Guy Miller / Mark Anwyl 
 
Tel: [phone] 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

(END) Dow Jones Newswires

January 15, 2024 02:01 ET (07:01 GMT)