Ilika PLC (AIM:IKA, OTCQX:ILIKF, FRA:I8A) has taken a further step toward commercialising its solid-state battery technology after completing its first revenue-generating product delivery to manufacturing partner Cirtec Medical.
In an interview with Proactive, chief executive Graeme Purdy discusses the significance of the milestone, what it signals about the transition from development to early commercial supply, and how the Stereax platform fits into the fast-growing market for miniaturised medical devices.
In the Q&A, Purdy outlines the potential applications for the technology – from implanted health sensors to neurostimulation devices – and explains how Ilika is building a regular production cadence as it prepares for broader commercial adoption.
Proactive: Graeme very good to see you. You've now delivered your first commercial batch of Stereax electrodes to Cirtec Medical. Why is this moment significant for Ilika’s journey from technology developer to commercial supplier?
Graeme Purdy: Morning, Stephen. Many thanks for the invitation. Great to be back. It's a really important announcement for the company today. A couple of months ago we said that Cirtec, the company’s manufacturing partner in the US for Stereax, had initiated the commercial supply arrangement in place to support product manufacturing. What we’re announcing today is that the company has fulfilled that initial order. So it is the first product revenue-generating order from Cirtec on the path to commercialization.
Proactive: These batteries could power everything from implanted sensors to neuro stimulators. Which applications are generating the most interest from device manufacturers at the moment?
Graeme Purdy: There is a fantastic portfolio of applications that the company continues to receive enquiries about. Perhaps the most straightforward are implanted sensors for applications like measuring blood pressure or oxygen concentration in the blood for patients struggling with COPD. Some of the most sophisticated devices are neuro stimulators that connect to the peripheral nervous system and deliver nanoamp currents of electricity into the nervous system. This can help stimulate organs or offset pain signals, often in cases such as lower back pain. There are also orthopedic implants such as smart hip, knee or shoulder replacements, orthodontic wearables and some cutting-edge ophthalmology devices generating excitement.
Proactive: You've proven you can deliver commercial grade electrodes from your UK facility. What does scaling production look like from here as demand grows?
Graeme Purdy: The company is now putting in place a regular heartbeat of deliveries of electrodes so that Cirtec has a reliable supply feeding into the product manufacturing process. It’s a really exciting time because the company is transitioning from development through to commercialization.
Proactive: And how big is the market that you're targeting?
Graeme Purdy: These are huge markets, dominated mainly by products marketed in the US. It is also a very rapidly growing area and part of the electroceutical revolution, where medical devices increasingly replace pharmaceuticals with highly specific treatments that can be miniaturised and potentially transform patients’ lives.
Proactive: Well Graeme congratulations on this latest milestone. I hope you'll continue to keep us updated with your progress.