Creo launches 'Speedboat Ultraslim' with first UK procedure

The AIM-traded firm said the design transfer to manufacturing had taken place, and the device's inaugural procedure had been completed in the United Kingdom.

It said the maiden use of Speedboat UltraSlim was for a procedure involving the lower gastrointestinal (GI) tract.

The development came on the heels of Creo's recent announcement that the UK and EU regulatory pathway had been accelerated by about 18 months.

It said it was now poised to advance swiftly with the first European upper GI cases and planned to introduce the device for upper and lower GI procedures in the United States, pending clearance from the US Food and Drug Administration, which was obtained in November.

The board said Speedboat UltraSlim represented the third addition to its Speedboat family of products and signified the culmination of an extensive development programme aimed at miniaturising the technology to enhance its versatility.

It said the device was designed to be compatible with a wide range of commercial endoscopes, covering the majority of GI endoscopic procedures.

Expanded compatibility was expected to enable more clinicians and patients to benefit from Creo's technology.

The primary focus of Speedboat UltraSlim was on the therapeutic treatment of diseases within the GI tract, including cancers of the bowel, stomach, and oesophagus.

It was also intended for surgical procedures aimed at addressing abnormalities leading to swallowing disorders and, in some cases, gastric reflux.

Powered by Creo's Croma energy platform, the device leverages bipolar radiofrequency energy for controlled cutting and high-frequency microwave energy for controlled tissue coagulation within the GI tract.

"This is yet another landmark moment for Creo Medical - we know what a difference this even smaller device will make in terms of broadening access to advanced energy in endoscopy for a wider pool of clinicians," said chief executive officer Craig Gulliford.

"Speedboat UltraSlim is compatible with all major endoscopes, meaning clinicians can bring advanced energy to their practices, allowing more patients to be treated endoscopically, which avoids surgery and the associated secondary costs and risks.

"We will continue the early market release to a designated early adopter programme over the coming weeks before the full market launch in early 2024, with significant demand for this product already indicated from existing and potential Speedboat users."

At 1335 GMT, shares in Creo Medical Group were down 0.44% at 34.1p.

Reporting by Josh White for Sharecast.com.