20th March 2018

Creo on track for 2019 commercial launch

Chepstow-headquartered medical products company Creo Medical is on track to launch its first commercial products in 2019.

Creo produces devices for surgical endoscopy, with its Speedboat RS2 device using microwave and bi-polar radiofrequency (“RF”) energy to perform surgical tasks.

In interim results for six months to 31 December 2017, Creo said highlights for the period included a soft operational launch for the Speedboat device, with the product also receiving FDA approval ahead of schedule.

Craig Gulliford, chief executive, said: “I am pleased with the progress we have made against all our strategic objectives, not only in the first half of FY 2018, but over the last 12 months.

“Since we listed in December 2016, we have achieved CE marking and FDA clearance ahead of schedule for our first product, Speedboat RS2, in Europe and the US.

“We are executing against our training led commercialisation plan, targeting selected clinicians and key opinion leaders to drive clinical adoption.

“Significantly, the first patients in the UK have been treated using our Speedboat RS2 device powered by our CROMA platform. Furthermore, our technology has been deployed and utilised at a second NHS site.

“The advances that we have made in our pipeline positions us well to become a leading advanced energy, minimally invasive, medical device company.  We remain on track for full commercial launch in 2019.”

The company made an operational loss of £5.1m in the period, which was said to be in line with management expectations.

View Creo Medical’s profile here.