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Igraine PLC on Monday noted progress in new product development for its investee, Fixit Medical Ltd. Back in 2023, the London-based investor in battery energy storage and life sciences bought a stake in Fixit, a Poole, Dorset-based producer of medical devices. As of Monday, Igraine holds around 20% of Fixit share capital. Fixit has adopted the new trading name Cingo Technologies, Igraine said, an update that reflects its growing scope and ‘reinforces its positioning across a combined $5 billion plus global market opportunity.’ On the product front, Fixit’s catheter fixation device has passed the design phase, and 300 new units are moving into production, expected to be ready by the end of August. This ‘milestone’ is intended to support the regulatory process. Fixit hopes the product will make a dual-market entry, and is preparing to applications to US and European regulators, aiming to submit the latter in five months’ time. The company is also applying for an EIC Accelerator Grant of €1.6 million, intended to boost development of other medical devices under the Cingo brand. Additionally, Fixit noted key partnerships in the UK, including with Southampton‘s Emerging Therapies and Technology Centre, which will work with Fixit on clinical trials of the catheter device. Arts University Bournemouth is providing access to facilities, while Warwick Manufacturing Group is assisting with manufacturing simulations for the product. Fixit also said that Health Innovation Wessex’s was helping ‘to navigate the NHS landscape’. Fixit Chief Executive Rob Ward commented: ‘These milestones reflect the strength of our team, the transformative potential of the Cingo® device family, and the growing confidence of the medical community.’ ‘This breadth of offering not only increases the intrinsic value of the business but also strengthens the brand’s position as a meaningful innovator in patient care. The relationship between Igraine and Fixit Medical has never been stronger,’ added Simon Grant-Rennick, a non-executive director of Igraine. Igraine shares were last quoted at 0.33 pence on the Aquis exchange. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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