Fusion IP reveals new Cardiff Uni spin-out to commercialise laparoscopic surgical devices

Intellectual Property commercialisation specialist Fusion IP (AIM: FIP) has announced a new start-up medical devices company, Asalus Medical Instruments Ltd. Asalus is a new spin-out company, resulting from Fusion's partnership with Cardiff University. Asalus is developing three devices that will improve the safety and efficiency of laparoscopic surgery, the company said.

Asalus is founded on the inventions of Neil Warren, manager of the Wales Institute of Minimal Access Therapy (WIMAT) at University Hospital Wales in Cardiff.

Laparoscopic surgery is performed through small incisions.  The three novel products in development are a smoke and steam clearance device, an access port providing significant benefits over those currently available and a multifunctional device for the atraumatic manipulation of tissues and organs. Patents have already been filed on all three devices.

“Fusion's support, both commercially and financially has been invaluable and we look forward to bringing our novel product range to market in the near future", Asalus founder Warren commented, "The work at WIMAT is at the forefront of minimally invasive surgery training and it was this hands-on experience that enabled me to come up with the concepts for the Asalus range of laparoscopic devices.”

According to the company, the number of procedures conducted using this technique has grown rapidly with over 2 million laparoscopic operations performed in the US every year.  A 2006 report by BCC Research estimated the global market for laparoscopic surgery  devices and instruments was worth US$12 billion in 2005, it expected it to grow to US$18.5 billion by 2011, Fusion said.

Fusion specialises in university-generated intellectual property.  It has long-term exclusive agreements with the University of Sheffield and Cardiff University, giving it access to a combined R&D (research and development) spend of over £185 million a year.

Fusion has also entered into a new co-investment agreement with IP Group, in which IP Group has the right to acquire for cash, 20% of Fusion's equity in any new portfolio company. IP Group holdd approximately 19.8% of Fusion.  http://www.proactiveinvestors.co.uk/companies/news/12694/fusion-ip-reveals-new-cardiff-uni-spin-out-to-commercialise-laparoscopic-surgical-devices-12694.html