Trackwise Designs PLC Agreement with CathPrint AB
April 30 2021 - 1:01AM
RNS Non-Regulatory
TIDMTWD
Trackwise Designs PLC
30 April 2021
30 April 2021
7:01am
TRACKWISE DESIGNS PLC
("Trackwise" or the "Company")
Agreement with CathPrint AB
CathPrint AB selects Trackwise IHT for its next generation
catheter technology
Trackwise Designs (AIM: TWD), a provider of specialist products
using printed circuit technology, is pleased to announce it has
signed a multi-year agreement (the "Agreement") with CathPrint AB,
the Stockholm-based company with expertise in the development and
manufacturing of medical device products. CathPrint is an existing
Trackwise development revenue customer. Under this Agreement,
development revenues are expected to continue over the next two
years, and are then expected to be followed by larger production
revenues over a further five years subject to agreement on pricing
and specification.
CathPrint AB has developed CathPrint Technology Ò , a novel
technology platform for the use of flexible printed circuit boards
in advanced catheters. This Agreement is for the supply of Tra
ckwise's IHT component parts for use in CathPrint's products. The
use of IHT enables cost-efficient incorporation of electronic
components within catheters, probes and tubing in contrast to
today's typically handmade manufacturing.
Alongside Electric Vehicles and Aerospace, Medical is a key
target market for Trackwise due to the weight and space saving
properties of IHT alongside its reliability, functionality and ease
of manufacture. The Company continues to explore significant
potential customer opportunities in this sector.
Philip Johnston, CEO of Trackwise, commented: "We're delighted
to be supporting CathPrint in its innovative work in catheter
development and manufacturing. Today's Agreement demonstrates the
wide applicability of IHT across diverse end-markets and the
ability of our engineers to successfully meet the needs of those
markets, underlining our confidence in the opportunity for
Trackwise."
Bengt Kallback, CTO of CathPrint: "We have successfully
cooperated with Trackwise to develop our technology platform and
look forward to continuing our work with them in the
commercialisation phase. Their unique competence in this area is
key to our continued expansion."
Enquiries:
Trackwise Designs plc +44 (0)1684 299 930
Philip Johnston, CEO www.trackwise.co.uk
Mark Hodgkins, CFO
finnCap Ltd +44 (0)20 7220 0500
NOMAD and Broker
Ed Frisby / Tim Harper - Corporate Finance
Andrew Burdis / Barney Hayward- ECM
Alma PR +44 (0)20 3405 0205
Financial PR and IR
David Ison / Caroline Forde / Josh Royston
/ Kieran Breheny
Notes to editors
Trackwise is a UK-based manufacturer of specialist products
using printed circuit technology.
The full suite includes: Improved Harness Technology(TM) ("IHT")
and Advanced PCBs - Microwave and Radio Frequency ("RF"), Short
Flex, Flex Rigid and Rigid Multilayer products.
IHT uses a proprietary, patented process that Trackwise has
developed to manufacture multilayer flexible printed circuits of
unlimited length. While the technology has many applications, the
directors expect that one of its primary uses will be to replace
traditional wire harness in a variety of industries.
The Company has three sites, located in Tewkesbury, Stevenage
(following the acquisition of Stevenage Circuits Ltd in April 2020)
and Stonehouse. It serves customers in Europe and North
America.
Trackwise Designs plc was admitted to trading on AIM in 2018
with the ticker TWD. For additional information please visit
www.trackwise.co.uk
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END
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