Shape Memory Medical Enters Sublicense Agreement of Its Intellectual Property

December 11, 2023—Shape Memory Medical Inc. announced it has entered into a sublicense agreement with a strategic global medical device company. Under the agreement, Shape Memory Medical will sublicense its proprietary shape memory polymer technology for a narrow high-growth indication outside of Shape Memory Medical’s endovascular and neurovascular focus, in return for an upfront license payment, and future milestones and royalties.

The company stated that while pursuing this and other potential sublicense opportunities, it remains committed to the clinical and commercial development of its proprietary technology within its core business—aortic, peripheral vascular, and neurovascular embolization.

“This marks the second sublicense of our intellectual property portfolio to another highly respected medical device manufacturer,” commented Shape Memory Medical’s President and CEO Ted Ruppel in the press release. “This is an innovative application of our technology that could further revolutionize an already rapidly growing and competitive global market. Given the unique properties of our shape memory polymers, we believe there remain other clinical areas in which our materials will help improve and further differentiate market-leading medical products to benefit patients and grow market share for our partners.”

According to Shape Memory Medical, its team has combined expertise in polymer chemistry and formulation, medical device development, manufacturing, and clinical research to develop a medical technology platform and a pipeline of medical devices for a variety of clinical indications.

The company’s core shape memory polymer’s properties include vascular space filling, radiopacity, low radial force, porosity to support thrombus formation, and stimulation of the immune response and healing system. The company’s intellectual property portfolio covers the development, manufacture, and clinical application of its shape memory polymer technology.

Based in Santa Clara, California, the company’s products include the Impede and Impede-FX devices, which have received CE Mark approval and FDA clearance for peripheral embolization applications. Its Trellix embolic coils have received CE Mark approval for neurovascular applications but have not been cleared or approved by the FDA, advised the company.