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Ilika PLC on Monday said it will work with Cirtec Medical for the manufacturing and commercialisation of batteries.
The Hampshire, England-based solid-state battery technology provider said it signed a memorandum of understanding with complex medical devices outsourcing partner Cirtec, deepening their existing relationship to now collaborate on miniature Stereax solid-state batteries.
The partnership outlines the transfer of Stereax millimetre-scale battery manufacturing to Cirtec’s facility in Massachusetts, US.
In turn, Ilika will focus on advanced technology development and IP licensing in support of Cirtec’s manufacturing and commercialisation activities.
Ilika said the benefits of the partnership include further validation of Stereax’s capabilities, delivering economy of scale and to rapidly increase production, alongside an expanded business development team bringing additional commercial momentum.
‘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,’ said Ilika Chief Executive Officer Graeme Purdy.
Brian Highley, Cirtec CEO, added: ‘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.’
Ilika said it anticipates signing a contract once the terms of the partnership have been finalised.
Shares in Ilika were up 10% to 38.50 pence each in London on Monday morning.
By Greg Rosenvinge, Alliance News reporter
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