Shape Memory Medical announced this week that it has entered into a sublicense agreement with a strategic global medical device company.
Under the agreement, Shape Memory Medical will sublicense its proprietary shape memory polymer technology for a narrow high-growth indication outside of Shape Memory Medical’s endovascular and neurovascular focus, in return for an upfront license payment, and future milestones and royalties. While pursuing this and other potential sublicense opportunities, Shape Memory Medical states in a press release that it remains committed to the clinical and commercial development of its proprietary technology within its core business—aortic, peripheral vascular, and neurovascular embolisation.
Commenting on the agreement, Shape Memory Medical’s president and CEO, Ted Ruppel, said: “This marks the second sublicense of our intellectual property portfolio to another highly respected medical device manufacturer. This is an innovative application of our technology that could further revolutionise an already rapidly growing and competitive global market. Given the unique properties of our shape memory polymers, we believe there remain other clinical areas in which our materials will help improve and further differentiate market-leading medical products to benefit patients and grow market share for our partners.”
Shape Memory Medical notes that its core shape memory polymer technology offers unique properties including vascular space filling, radiopacity, low radial force, porosity to support thrombus formation, and stimulation of the immune response and healing system. The company’s intellectual property portfolio covers the development, manufacture, and clinical application of its novel shape memory polymer technology.
