25th Jun 2019 14:38
(Alliance News) - Creo Medical Group PLC on Tuesday said it has received the first commercial orders for its Speedboat medical device.
Shares in Creo were up 12% at 187.24 pence in afternoon trade.
The purchase orders for Speedboat came from two US hospitals following a clinical education programmes in the US involving seven endoscopists across six hospitals. Speedboat allows doctors to perform surgical procedures during an endoscopy, including the removal of cancerous and pre-cancerous growths.
These sales are "a key milestone" for Creo, as it is rolling out its CROMA electrosurgical platform, including Speedboat.
Creo Chief Executive Craig Gulliford said: "Having invested heavily in the development and regulatory clearance with the first product, followed by establishing a class leading professional education programme, this milestone marks the point where we can start to commercially build on the potential created with these foundations.
"Initial revenues from the first device this year is once again in-line with expectations and combined with the clearance and launch of a suite of further GI devices in the coming year, we are on-track for scaling up the commercial launch of a suite of game changing GI products."
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