Ilika plc (LON:IKA), a pioneer in solid-state battery technology, has announced it has broadened its relationship with Cirtec Medical, an industry-leading strategic outsourcing partner of complex medical devices including minimally invasive and active implantable devices, by signing a memorandum of understanding which outlines the transfer of Stereax mm-scale battery manufacturing to Cirtec’s facility in Lowell, Massachusetts, U.S.
Ilika will focus on advanced technology development and IP licensing in support of Cirtec’s manufacturing and commercialisation activities. This partnership will reinforce Cirtec’s ongoing activities in system level miniaturisation for the medical device industry. Benefits of this partnership, to Ilika, include:
· Further validation of Stereax’s capabilities
· Manufacturing partnership delivering economy of scale and ability to rapidly ramp production
· Expanded business development team bringing additional commercial momentum
In due course Ilika and Cirtec envisage signing a contract once the terms of the partnership have been finalised and a further announcement will be made at this time.
Graeme Purdy, Ilika’s Chief Executive Officer, said: “Our partnership with Cirtec reinforces a pathway towards commercialisation of our Stereax battery technology. Cirtec brings a wealth of manufacturing experience and a strong track record of successful product commercialisation in the medical device industry.”
Brian Highley, Cirtec Medical Chief Executive Officer, commented: “With over 20 years of experience in the design, development and manufacturing of medical devices, Cirtec is uniquely poised to work with Ilika in bringing its Stereax battery technology to market. We believe this collaboration fits right into our strengths and expands upon our mission to vertically integrate our capabilities to support our offerings to the implantable and wearable device markets.”