Creo Medical - CE extension nearly doubles addressable GI
Speedboat Inject, Creo Medical’s flagship electrosurgical device, has received the CE mark for upper gastrointestinal (GI) procedures. This CE mark extension nearly doubles the device’s scope across all GI tract procedures in Europe and will likely create new surgical opportunities for additional indications (upper GI) as well as increasing the total user base in the near-to-medium term. We believe that the growth in Speedboat Inject’s user base rests on its pioneer training programme and robotics deals with Intuitive Surgical and CMR Surgical, which remain the primary growth drivers for Creo. We note that Speedboat Inject already has regulatory clearance for full GI tract procedures across both the United States and Asia Pacific (APAC) region. Taking into account the £33.7m (gross) fund-raise in Q123, we estimate the company is funded to operational profitability into H126.Creo Medical Group is a medical device company focused on the field of surgical endoscopy, a recent development in minimally invasive surgery. Co. is focused on developing and commercializing a suite of medical devices based on its CROMA electrosurgery platform.
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