Deltex Medical Group PLC Deltex awarded EU Horizon 2020 Phase 1 grant
April 27 2017 - 2:02AM
RNS Non-Regulatory
TIDMDEMG
Deltex Medical Group PLC
27 April 2017
27 April 2017
Deltex Medical Group plc
("Deltex Medical", "Deltex" or "the Company")
Deltex awarded EU Horizon 2020 Phase 1 grant
Deltex Medical Group plc (AIM: DEMG), the global leader in
Oesophageal Doppler Monitoring ("ODM"), is pleased to announce that
it has been awarded a grant of EUR50,000 under the EU's Horizon
2020 programme which finances feasibility studies for bringing new
products on to the market.
Per the European Commission's announcement
(http://ec.europa.eu/unitedkingdom/news/sixteen-uk-smes-receive-eu-funding_en).
"Deltex and Lariboisiere Hospital Paris have developed a system
called TruVue which provides simultaneous visual display of a
patient's aortic blood flow velocity and aortic blood pressure. It
is expected to significantly contribute to patient safety. The EU
funding will help Deltex test the system with users and collect
feedback about their experience with the user interface, Graphical
User Interface (GUI). It will also help work out the price of a
multinational clinical trial for a phase 2 application."
"Phase 1 funding of EUR50,000 may be followed by up to EUR2.5
million under Phase 2."
The Phase 1 grant is expected to be received in H1 2017. The
Company will be eligible to apply for Phase 2 as soon as it is able
to demonstrate success from the feasibility work.
Ewan Phillips, Deltex Medical's Chief Executive, commented:
"We are delighted to receive this endorsement and the potential
for the larger Phase 2 award, although there can be no certainty as
to if, or when this may come to fruition. The Phase 1 grant
coincides with our plan to release the Velocity Pressure loop
software, developed in partnership with Labroisiere Hospital in
Paris, to select clinical experts in the second half of the year
for clinical trials.
"The software is predicated on the CardioQ-ODM+'s unique ability
to measure continuously both central blood flows and arterial blood
pressure. Doing this enables new insights for clinicians into
changes in patients' vascular resistance and compliance."
For further information, please contact:-
Deltex Medical Group 01243 774 837
plc investorinfo@deltexmedical.com
Nigel Keen, Chairman
Ewan Phillips, Chief
Executive
Jonathan Shaw, Group
Finance Director
Nominated Adviser &
Broker
Arden Partners plc 020 7614 5900
Chris Hardie
Financial Public Relations
IFC Advisory 0203 053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring
technologies. Deltex Medical's ODM is the only technology to
measure continuously blood flow in the central circulation in real
time. Minimally invasive, easy to set up and quick to focus, the
technology generates a low-frequency ultrasound signal, which is
highly sensitive to changes in flow and measures them immediately.
Deltex has been the only company in the enhanced haemodynamic space
to build a robust and credible evidence base proving the clinical
and economic benefits of its core technology, ODM. Randomised,
controlled trials using Doppler have demonstrated that early fluid
management intervention will reduce post-operative complications,
reduce intensive care admissions, and reduce the length of hospital
stay.
Company goal
ODM is increasingly recognised as a standard of care for
patients undergoing major surgery and in critical care. The broader
clinical area of haemodynamic management of which ODM is a core
constituent is also now becoming widely accepted as an important
major new medical modality. Consequently, the Company's focus is on
maximising value from the opportunities presented as enhanced
haemodynamic management is adopted into routine clinical practice
around the world.
The Company is currently in the implementation phase of
achieving this goal in a number of territories worldwide, operating
directly in the UK, USA, Spain and Canada and through distribution
arrangements in a further 30 countries.
There are over 3,200 monitors installed in hospitals around the
world and around 700,000 patients have been treated to date using
Deltex Medical's single patient disposable probes.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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