Creo Medical signs IP licence deal with CMR Surgical

Surgical endoscopy device company Creo Medical Group has signed a non-exclusive intellectual property licence and a royalty agreement with surgical robotics business CMR Surgical, it announced on Monday, to integrate certain aspects of Creo's technology with the ‘Versius’ surgical robotic system through its ‘powered by Kamaptive’ licensing programme.

The AIM-traded firm said licensing terms and commercial royalties had been agreed, but would remain undisclosed.

It said CMR's next-generation surgical robot, Versius, was a “significant” new entrant into the robotic surgery space, and was being used to perform both routine and complex laparoscopic procedures across a range of specialties including gynaecology, colorectal surgery, thoracic surgery, general surgery and urology.

Through Creo's Kamaptive licensing programme, strategic partners were being selected for Creo to licence and develop its technology for use in “adjacent and complementary” markets.

“We are delighted to announce our second robotics partnership through our Kamaptive programme with CMR Surgical,” said chief executive officer Craig Gulliford.

“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, driven by a shared goal to improve outcomes for even more patients.

“Exploring the use of our technology in the fast-growing robotic surgery space with another prestigious partner provides further validation of our technology and its versatility.”

At 1400 BST, shares in Creo Medical were up 2.68% at 49.8p.

Reporting by Josh White at Sharecast.com.