Creo Medical Group PLC (AIM:CREO) said it has signed heads of terms with a ‘number’ of potential licensing partners for its Kamaptive surgical technologies.
Specifically, the interest is in the company’s SpydrBlade, Cool Plasma and MicroBlate products.
"The signing of heads of terms, and the pipeline of interest we have, demonstrates the potential that our technology has to extend into adjacent markets and to generate significant additional, long term, revenue streams,” said chief executive Craig Gulliford.
Creo has a strategy based on three pillars, one of which is finding partners in adjacent markets for its breakthrough Kamaptive technology, which combines both adaptive bipolar radiofrequency (RF) and super high-frequency microwave energy to power surgical instruments.
The hope is it can find large, international med-tech firms to expand into laparoscopic surgery, robotically assisted surgery and non-thermal plasma sterilisation.
“We are mindful to ensure that potential partners share Creo's values and the commitment to improving patient outcomes, as well as identifying adjacent markets which are growing and have the potential to provide long term value creation for our shareholders," said CEO Gulliford.
The company is a pioneer of the next generation of minimally invasive surgical technology bringing advanced energy, surgical tools to even smaller spaces while operating via standard flexible endoscopes such as colonoscopes, gastroscopes, duodenoscopes and echoendoscopes.
Its flagship Speedboat product allows interventional endoscopists and surgeons to make an incision, dissection and to coagulate the blood with one device obviating the requirement to switch instruments.
The Speedboat products, along with Creo’s MicroBlate ablation technology, and its SlypSeal non-stick sealing device, work from a single advanced energy platform called CROMA.
As well as looking to harness the commercial potential of its products by partnerships, it is also executing a build-and-buy strategy.