On his first official engagement in Wales since the easing of coronavirus lockdown restrictions, Mr Hart visited Creo Medical, where he heard how the company will use a £2m Cardiff Capital Region investment to develop its Cool Plasma technology which the company says has been shown to be effective in inactivating and decontaminating the Covid-19 virus.
In response to the pandemic Creo Medical will prioritise developing pioneering technology that meets the urgent needs created by Covid-19, including sterilisation of PPE and medical equipment.
The £2m loan, repayable over five years, has been provided by the Cardiff Capital Region. The UK Government is committed to supporting ground-breaking research and development in Wales and has committed £500million to the Cardiff Capital Region, helping them to support innovative companies such as Creo Medical.
The Welsh Secretary was also shown Creo’s range of advanced energy surgical endoscopy products. Products that are already being used to revolutionise bowel cancer treatment and could soon be used to treat other forms of cancer, such as lung and pancreatic cancer.
Secretary of State for Wales Simon Hart said:
It is fantastic to see Welsh companies stepping up to the challenges created by this pandemic and developing technology that can make a real difference in the fight against Covid-19.
The Cardiff Capital Region’s £2 million investment will boost the innovative research that is already taking place at Creo Medical and help enhance south Wales’ position as a leader in the development of medical technology.
Craig Gulliford, Chief Executive Officer of Creo, said:
We were very pleased to welcome the Secretary of State for Wales to our facilities here in Chepstow. We are proud to have taken our expertise in developing innovative medical devices and applied them to our plasma technology to develop products that could help halt the spread of Coronavirus.
Wales has a strong reputation for producing technology rich and innovative life sciences companies and I am delighted we have established a platform to develop critical medical tools here in the UK that will benefit cancer patients worldwide, and to protect our nation against a resurgence of COVID-19.
Peter Fox, Leader of Monmouthshire County Council and Vice Chair of Cardiff Capital Region Cabinet, said:
Cardiff Capital Region Cabinet is delighted to support Creo Medical in developing their Cool Plasma technology. This tremendous innovation in sterilisation couldn’t have come forward at a better time and this new technology will be a game changer in killing bacteria and viruses and has already proved that it can be effective against COVID-19.
The MedTech industry is a key area of development and opportunity for the Cardiff Capital Region. It is fantastic we have Creo in our midst – a leading light in medical science. Providing this loan ensures this crucial technology can be developed at speed.
Our region is an exciting place to be and our City Deal stands ready to unlock further opportunity. We are so pleased to be working with forward thinking companies such as Creo medical and we look forward to working with them.
Creo Medical’s expertise as an innovative medical device designer has been established through its range of advanced energy surgical devices that can be used endoscopically to safely treat a wide range of gastrointestinal complications including the early signs of bowel cancer. Pioneered in the UK by leading NHS endoscopists, the use of Creo’s first product, Speedboat has been demonstrated to save NHS hospitals nearly £5,000 per procedure versus traditional surgical techniques. Creo’s technology allows operations that previously took place under general anaesthetic to be done quickly and safely as outpatient procedures – providing benefits for the NHS in terms of economics and reducing waiting lists, but also providing better outcomes for patients.