5th Jul 2024 12:09
(Alliance News) - Creo Medical Group PLC's expanded deal with Intuitive Surgical Inc is a sentiment boost ahead of a commercial launch later this year.
On Tuesday, the Chepstow, Wales-based medical device company said the multi-year agreement with California-based Intuitive will now expand the number of sites in the UK and Europe undertaking combined lung cancer diagnostic and microwave ablation procedures.
The collaboration agreement amendment will support the collection of post-market clinical evidence as part of a controlled market release ahead of the next stage in commercialisation of the MicroBlate Flex device, the firm explained.
Over the next 12 months, Creo and Intuitive will roll out a controlled clinical pioneer programme across multiple sites in the UK and Europe. The first cases from these additional sites are expected to begin before the end of the calendar year.
Analysts at Edison pointed out the deal with the leading robotics manufacturer will see additional sites testing MicroBlate Flex in combination with Intuitive’s Ion surgical system for combined lung cancer diagnostics and treatment.
The first such successful procedure under a clinical trial setting was announced in March and the addition of new centres could potentially drive accelerated adoption of the MicroBlate Flex.
Edison explained commercial roll-out is planned over the next 12 months, with first procedures from the new sites expected in the second half of financial 2024.
"We view this deal expansion as a validation of the utility of Creo's technology in robotics-assisted procedures and a sentiment boost ahead of MicroBlate Flex's commercial launch later this year," Edison analysts said.
Shares in Creo Medical fell 0.7% to 32.77 pence in London on Friday.
By Jeremy Cutler, Alliance News reporter
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