Elektron Technology PLC Acquisition of IP in EET business (8527C)
January 25 2018 - 1:00AM
UK Regulatory
TIDMEKT
RNS Number : 8527C
Elektron Technology PLC
25 January 2018
Elektron Technology Plc
("Elektron" or the "Company")
Acquisition of IP in EET business
Elektron Technology plc (AIM:EKT), announces that its Elektron
Eye Technology business ("EET") has purchased the patent of the MPS
II macular pigment screening device for the sum of GBP220,000.
Previously the device was manufactured under a licence arrangement
that was scheduled to expire in 2023. The transaction is in
addition to the purchase of intellectual property (previously
mentioned in Elektron's interim report) relating to the Henson 9000
visual field screener. That transaction also replaced a licensing
agreement. As a result of the two transactions, EET owns all IP
related to its product portfolio.
The two instruments referred to above address age-related
macular degeneration ("AMD") and glaucoma, respectively, two of the
most common ocular diseases threatening the eye health of the
ageing global populace. It is estimated that by 2020 there will be
196 million AMD sufferers and 80 million glaucoma sufferers
worldwide.
Separately EET was recently notified by the Food and Drug
Administration in the US that the Henson 9000 is not subject to
premarket registration under its clearance procedures. This opens
the way for the instrument to be marketed in the US. In the last
financial year approximately 90% of its sales were in the UK. The
number of optometrists in the US is approximately 45,000, three
times that of the UK.
John Wilson, Elektron CEO, commented: "We are pleased to have
completed these acquisitions which are in line with our strategy of
being an owner of IP. We look forward to making the best use of the
opportunities presented to us by vigorously marketing these
products globally."
For further enquiries:
+44 (0) 1223
Elektron Technology plc 371 000
www.elektron-technology.com
John Wilson (Chief Executive Officer)
Andrew Weatherstone (Chief Financial
Officer & Company Secretary)
N+1 Singer (Nominated Adviser & +44 (0) 20
Broker) 7496 3000
Shaun Dobson / Jen Boorer (Corporate
Finance)
Michael Taylor (Corporate Broking)
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Notes to Editors:
Elektron conceives, designs and markets innovative products and
services for business that connect, monitor and control. We have a
multi skilled team of engineers, software and product line
specialists based in Cambridge focused on the opportunities created
by global growth in the following areas:
- Demand for ubiquitous power and data: Bulgin
- Real-time operations management using Internet of Things (IoT)
technology: Checkit
- Screening for the effects of ageing on sight: Elektron Eye
Technology
- High precision nano-scale manufacture: Queensgate
This information is provided by RNS
The company news service from the London Stock Exchange
END
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