Innovation forges a new frontier for minimally invasive surgery
After posting results covering a year of “considerable progress” Creo Medical Group plc (Creo) have advanced their technology platforms into commercial products and are ready to move from local production into volume manufacturing. The 12 months to the end of December 2019 enabled the development and path to commercial launch for the Company’s suite of devices to complement its CROMA Advanced Energy Platform and Speedboat Inject devices for use in gastrointestinal therapeutic endoscopy.
Despite the challenges and uncertainties that COVID-19 has created for businesses world-wide, Creo remain confident of their medium and long-term prospects having developed an unrivalled suite of game-changing devices that will change the way endoscopists and surgical users operate and bring positive benefits to patients globally.
The Chepstow-based company strives to improve patient outcomes by bringing Advanced Energy to flexible endoscopy – the new frontier of minimally invasive surgery. Creo has developed CROMA, an Advanced Energy Platform that delivers a combination of bi-polar radiofrequency and microwave energy for a range of surgical effects through a single accessory port. This technology makes it possible to conduct endoscopic surgery by enabling miniature endoscopic devices to cut, coagulate and ablate with precision.
Creo’s Speedboat Inject, the first CE Marked and FDA cleared Advanced Energy instrument designed for use in flexible endoscopy is now in use worldwide and patients have been treated with life changing outcomes. Using Creo’s Speedboat Inject device, patients can have certain complex lesions removed and treated as day patients under mild sedation rather than requiring general anaesthetic. There is an opportunity for more patients to be treated and with fewer inpatients stays, it is beneficial to patients and offers reduced costs to hospitals.
Creo have also achieved several operational achievements:
- 510K clearance from the US Food and Drug Administration (‘FDA’) for Creo’s SlypSeal Flex device for haemostasis. They are also on track to gain clearance with additional devices from the suite of products in the USA
- CE Marked approval gained for SpydrBlade Flex, MicroBlate Fine, MicroBlate Flex, SlypSeal Flex and Speedboat Slim. These five devices are optimised for the core tissue effects of dissection, resection, haemostasis and ablation
- Strengthened IP portfolio, with 188 granted patents and 599 pending applications (as at 31 December 2019)
Craig Gulliford, Chief Executive Officer, commented, “Whilst the global outlook for 2020 may be uncertain, I believe we have created a solid platform to deliver on our longer-term commercial goals”.