Medtech firm poised for growth ‘milestone’
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CREO Medical has been boosted with simultaneous CE marking status for five new devices in the field of surgical endoscopy, in a development described by its chief executive as an “amazing milestone.”
The Chepstow-based firm, which is listed on the London Alternative Investment Market, has developed new devices which form the Creo GI (gastrointestinal) suite of advanced energy devices across four technology platforms. The CE marking of the full range of products provides EU and UK clearance.
The devices Speedboat Slim, SpydrBlade Flex, MicroBlate Fine, MicroBlate Flex and SlypSeal Flex, will be marketed at clinical practice, with commercialisation expected in the second half of this year.
Creo’s chief executive Craig Gulliford said: “We are delighted to announce the CE Mark and European clearance for our wider suite of GI products. Since their first demonstration at the UEG Week Congress in October 2019 the Creo team have been gearing up for first clinical use in various markets. Procedures utilising our products have, for the right reasons, been delayed during the coronavirus pandemic as routine diagnostics have been stopped to free up resources. However, we are now poised with a wider range of devices than originally planned, that will allow the company to re-emerge from lockdown stronger and more confident in our medium and longterm prospects.
“It’s difficult to articulate how the whole company feels about achieving this amazing milestone. Bringing any medical device to market is very challenging, especially if they are truly novel medical devices powered by cutting-edge technology. So bringing five individual and gamechanging devices to market at the same time is a phenomenal achievement for the entire Creo team.”
Mr Gulliford said it heralded the next phase of Creo’s business development, taking advanced laparoscopic surgical technology to the endoscopy community worldwide.
He added: “The whole company is wgearing up for enabling doctors across Europe, India and beyond to treat patients with these new device families for the first time over the coming months.”
Creo has a market capitalisation of £315m.