Creo Medical Group PLC Kamaptive Licence and Royalty Agreement with CMR (7875D)

TIDMCREO

RNS Number : 7875D

Creo Medical Group PLC

24 October 2022

Creo Medical Group plc

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

Kamaptive Licence and Royalty Agreement with CMR Surgical

Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, announces that it has signed a non-exclusive Intellectual Property Licence and a Royalty Agreement with CMR Surgical Limited, the global surgical robotics business, to integrate certain aspects of Creo's technology with the Versius(R) Surgical Robotic System, through Creo's "Powered by Kamaptive" licensing programme . Licensing terms and commercial royalties have been agreed but will remain undisclosed.

CMR's next-generation surgical robot, Versius(R), is a significant new entrant into the robotic surgery space and is being used to perform both routine and complex laparoscopic procedures worldwide across a range of specialties including gynaecology, colorectal surgery, thoracic surgery, general surgery and urology.

Through Creo's Kamaptive licensing programme, strategic partners are being carefully selected with whom Creo can licence and develop its technology for use in adjacent and complementary markets. The Agreements are the latest licensing deal under Creo's Kamaptive licensing programme.

Craig Gulliford, Chief Executive Officer of Creo, commented: "We are delighted to announce our second robotics partnership through our Kamaptive programme with CMR Surgical. Versius(R) has been used for a wide range of laparoscopic procedures worldwide, and we look forward to collaborating with CMR to integrate Creo's ground-breaking minimally invasive technology with the Versius(R) system, driven by a shared goal to improve outcomes for even more patients. Exploring the use of our technology in the fast-growing robotic surgery space with another prestigious partner provides further validation of our technology and its versatility."

About Kamaptive Technology

Creo has developed multi-modal adaptive technology to optimise surgical capability and patient outcomes under its "Powered by Kamaptive" brand. Kamaptive is a seamless, intuitive integration of 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 and lies at the heart of Creo's CROMA Advance Energy platform and associated electrosurgical medical device technology.

This announcement contains inside information.

Enquiries:

 
 Creo Medical Group plc                                                  www.creomedical.com 
 Richard Rees (CFO)                                                      [phone] 
 
 Cenkos Securities plc                                                   [phone] 
 Stephen Keys / Camilla Hume (NOMAD) 
 Michael Johnson / Russell Kerr (Sales) 
 
 Numis Securities Limited (Joint 
  Broker) 
  Freddie Barnfield / James Black 
  / Duncan Monteith                                                      [phone] 
 
 Walbrook PR Ltd                           Tel: + 44 ( 0)20 7933 8780 or [e-mail] 
 Paul McManus / Sam Allen /                           Mob: [phone] 
  Phillip Marriage                                             558 258 / [phone] 
 

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

About CMR Surgical Limited

CMR Surgical (CMR) is a global medical devices company dedicated to transforming surgery with Versius(R) , a next-generation surgical robot.

Headquartered in Cambridge, United Kingdom, CMR is committed to working with surgeons, surgical teams and hospital partners, to provide an optimal tool to make robotic minimal access surgery universally accessible and affordable. With Versius, we are on a mission to redefine the surgical robotics market with practical, innovative technology and data that can improve surgical care.

Founded in 2014, CMR Surgical is private limited company backed by an international shareholder base.

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October 24, 2022 02:00 ET (06:00 GMT)