Ilika and Cirtec Medical firm up partnership with ten-year manufacturing licence
Romsey-based Ilika revealed it has firmed up its partnership with US-based Cirtec Medical with the signing of a ten-year manufacturing licence.
Contractual negotiations have now been concluded, said Ilika, and its Stereax range of mm-scale batteries will be made at Cirtec's facility in Lowell, Massachusetts.
"We are delighted to be working with Cirtec for the commercialisation of Stereax," said Graeme Purdy, Ilika's CEO in a statement.
READ MORE: Ilika posts turnover of £0.7 million in fiscal 2023
"Cirtec has a strong track record in the commercialisation of miniature medical devices and we believe this partnership is well-positioned to ensure a high quality, reliable and scalable supply of Stereax batteries to our customers."
Meanwhile, Brian Highley, Cirtec Medical's CEO, added: "We are excited by the prospect of adding Stereax battery technology to our portfolio of medical device solutions.
"Our 20 years of experience in the design, development and manufacture of medical devices positions Cirtec strongly to work with Ilika to bring 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 specializes in developing solid-state batteries. Its Stereax product line is designed for miniature medical implants and specialist internet of Things (IoT) applications.
Last month, the company reported turnover of £0.7 million in its year to end-April, 2023 compared to £0.5 million in the year earlier period.
Its cash and equivalents and bank deposits stood at £15.9 million at the end of April, down from £23.4 million at the same time in 2022.
Visit Hampshire Biz News for bright, upbeat and positive business news from the county
