(Alliance News) - Creo Medical Group PLC on Monday said it had signed an intellectual property licence and a royalty agreement with CMR Surgical Ltd.
Creo is a Wales-based medical devices company, specialising in surgical endoscopy. Its agreement with CMR Surgical allows it to incorporate aspects of its own technology in CMR Surgical's Versius Surgical Robotic System. The agreement is the latest licensing deal under Creo's Kamaptive licensing programme.
CMR's next-generation surgical robot, Versius, is a "significant new entrant" into the robotic surgery space and is being used to perform both routine and complex laparoscopic procedures worldwide.
Through Creo's Kamaptive licensing programme, strategic partners are being carefully selected with whom Creo can licence and develop its technology for use in adjacent and complementary markets.
Creo's Kamaptive brand is a multi-model adaptive technology designed to optimise surgical capability. It provides clinicians with "increased flexibility, precision and controlled surgical solutions.."
Licensing terms and commercial royalties have been agreed but will remain undisclosed.
Chief Executive Officer Craig Gulliford said: "We are delighted to announce our second robotics partnership through our Kamaptive programme with CMR Surgical. Versius has been used for a wide range of laparoscopic procedures worldwide, and we look forward to collaborating with CMR to integrate Creo's ground-breaking minimally invasive technology with the Versius system."
Shares in Creo Medical Group were trading 0.8% higher at 48.90 pence each in London on Monday afternoon.
By Chris Dorrell; chrisdorrell@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Creo Medical (CREO)