Shape Memory Medical Sublicenses Its Polymer Technology’s Intellectual Property

July 6, 2023—Shape Memory Medical Inc announced it has entered into a sublicense agreement with a separate global medtech market leader.

The company will sublicense its shape memory polymer technology for a narrow indication in a therapeutic area outside of Shape Memory Medical’s cardiovascular, endovascular, and neurovascular focus. In return, Shape Memory Medical will receive an upfront license payment as well as future milestones and royalties.

While pursuing this and other potential sublicense opportunities, Shape Memory Medical remains committed to the clinical and commercial development of its technology within its core business of aortic, peripheral vascular, and neurovascular embolization, advised the company.

The company’s products include CE Mark-approved and FDA-cleared Impede and Impede FX devices for peripheral embolization applications and the CE Mark-approved Trellix embolic coil for neurovascular applications. Its core shape memory polymer technology’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 the shape memory polymer technology.

“We are excited to have executed this first sublicense agreement with a highly respected medical device manufacturer," commented Ted Ruppel, Shape Memory Medical’s President and CEO, in the company’s press release. "Given the unique properties of our shape memory polymers in clinical applications, we believe this will be the first of several arrangements in which our materials will help improve and further differentiate market-leading medical products, to benefit patients and grow market share for our partners.”