Tekcapital plc Acquisition of Medical Device Licence (8724J)

TIDMTEK

RNS Number : 8724J

Tekcapital plc

15 September 2016

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)

Tekcapital plc

("Tekcapital")

Acquisition of Medical Device Licence

Tekcapital plc (AIM: TEK), an international provider of technology and intellectual property services, announces that Belluscura Limited ("Belluscura"), has acquired the exclusive licence and related manufacturing assets for the distribution and sale of the Wire Caddy(TM) , a proprietary medical device, from Stryker Corporation.

The Wire Caddy is an innovative wire management system that provides lubrication and organization during multi-wire, multi-exchange operating room cases such as cardiology interventions, uterine fibroid embolizations and tibial angioplasties.

The Wire Caddy provides unobtrusive positioning around the patient, allowing immediate access to wires when needed, but keeping them out of the way when not in use. The patented system was developed by a leading interventional radiologist. The device is cleared for sale in the U.S. and previously achieved commercial sales in over 100 hospitals. The consideration for the licence acquisition includes a modest up-front cash payment and the agreement for Belluscura to pay royalties on future product sales. The product is protected by two issued patents.

Tekcapital holds 74.44% of the share capital of Belluscura.

Dr. Clifford M. Gross, Executive Chairman of Tekcapital, commented: "We are very pleased to announce that Belluscura has acquired the exclusive licence to the Wire Caddy and is executing its model to acquire and market unique medical devices. Belluscura's mission is to provide premium, proprietary medical devices at affordable prices."

For further information, please contact:

 
                                        +1 305 200 3450 
 Tekcapital Plc                          Ext 305 
  Clifford M. Gross, Ph.D.              info@tekcapital.com 
 
 Allenby Capital Limited (Nominated     +44 (0)20 3328 
  Adviser & Joint Broker)                5656 
 Jeremy Porter / Alex Brearley 
 
 Optiva Securities Limited (Joint       +44 (0) 20 3137 
  Broker)                                1904 
 Jeremy King / Vishal Balasingham       jeremy.king@optivasecurities.com 
 
                                        +44 (0) 20 7933 
 Walbrook PR Ltd                         8780 
 Paul Cornelius / Paul McManus 
  / Helen Cresswell                     tekcapital@walbrookpr.com

About Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital helps clients profit from new, university-developed intellectual properties. With our proprietary discovery search engine, linked to 4,000+ universities in 160 countries, coupled with expert scientific review, we provide a turn-key service to make it easy for clients to find and acquire the IP, analytics and technology transfer professionals they need to create a competitive advantage. Tekcapital plc is listed on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

This information is provided by RNS

The company news service from the London Stock Exchange

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September 15, 2016 02:00 ET (06:00 GMT)

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