Creo Medical making its mark in endoscopy

Creo Medical Group PLC is a medical device company focused on the emerging field of surgical endoscopy, a recent development in minimally invasive surgery.

The company’s mission is to improve patient outcomes by applying microwave and radiofrequency energy to surgical endoscopy.

Creo Medical was founded in 2003 by Professor Chris Hancock, initially to target the treatment of cancers through use of high frequency microwave energy and dynamic matching techniques.

(, ) (AIM:CREO, ) said the first six months of 2021 was a period of “strategic and operational progress” as the medical device company secured the first sales of its revolutionary Speedboat Inject endoscopic device in the US and Europe.

The product combines the benefits of bipolar radiofrequency and super high-frequency microwave energy to allow precise cutting in the upper and lower gastrointestinal tract when removing obstructions such as polyps.

It has been proven to save up to GBP10,000 per procedure compared with traditional methods.

Creo, in its interim results statement, said commercial orders for the system remained in line with expectations on both pricing and volume.

() said its US-approved precision device that effectively microwaves tumours was used to treat a pancreatic cancer patient as part of a first-in-human study.

The procedure was carried out by Dr Carlos Robles-Medranda in Ecuador on a patient with an unresectable pancreatic neuroendocrine tumour that couldn’t be treated using traditional surgical techniques.

A sterlisation technology that could be used to combat the spread of coronavirus has won GBP2mln of Welsh financial backing.

() said it had secured a loan from the Cardiff Capital Region, which will be used to develop the company’s Cool Plasma technology, which kills bacteria and viruses.

Creo Medical PLC’s revenue improvement at the half-year was driven by subsidiary Albyn though on-going investment in the core business affected the bottom line, said Cenkos.

“Year-to-date, the company has opened regional offices to support the global roll-out of its products, published improved health economic data and initiated discussions with third parties with regards to licensing out the Kamaptive technology,” said the broker.

Cenkos upgraded its forecasts based upon the strong performance from Albyn in the period, with the estimate for revenues for 2021 up by 7.5% and losses cut by GBP3mln, and kept its ‘buy’ recommendation.

(, ) (AIM:CREO, ) (AIM:CREO, ) Craig Gulliford joins Proactive London’s Katie Pilbeam to talk about the genesis of the company, their strategic growth plans and the first six months of 2021.

The medical device company managed to secure the first sales of its revolutionary Speedboat Inject endoscopic device in the US and Europe.The product combines the benefits of bipolar radiofrequency and super high-frequency microwave energy to allow precise cutting in the upper and lower gastrointestinal tract when removing obstructions such as polyps.

Turning to the financials, the company booked total sales of GBP12.9mln for the period but made an underlying loss of GBP7.7mln, reflecting the investment made developing and commercialising its products.