# Ilika plc signs ten-year manufacturing licence for Stereax with Cirtec Medical

- Link: https://www.directorstalkinterviews.com/ilika-plc-signs-ten-year-manufacturing-licence-for-stereax-with-cirtec-medical/4121124645
- Published: 2023-08-04T07:15:13+01:00
- Author: Ethan Davis

**Partnership to collaborate in the manufacturing and commercialisation of miniature
Stereax solid-state batteries**

**[Ilika Plc](https://www.directorstalkinterviews.com/company/ilika-plc/ika.l)**(
[LON:IKA](https://www.directorstalkinterviews.com/company/ilika-plc/ika.l)), a pioneer
in solid-state battery technology, has announced that, further to its announcement
on 16 January 2023, it has concluded contractual negotiations with Cirtec Medical(‘
Cirtec’), an industry-leading strategic outsourcing partner of complex medical devices
including minimally invasive and active implantable devices, by signing a ten-year
manufacturing licence for the production of the Stereax range of mm-scale batteries
at Cirtec’s facility in Lowell, Massachusetts, U.S.

**Headlines of the contractual relationship include:**

·    A ten-year licence to manufacture the Stereax range of products

·    Exclusivity for Cirtec in the field of medical devices designed to drive full
utilisation of Cirtec’s installed capacity

·    Profit sharing during the initial period followed by royalty-bearing manufacturing
aligned with industry norms, calculated on individual battery volumes

·    Ilika to retain the cathode deposition process and back-end battery formation
at their FAB facility in the UK as a sub-contract service to Cirtec

·    Ilika to transfer some machine sets to the U.S. for Cirtec to operate on loan,
to enable a quicker technology transfer and qualification process

Ilika will now focus on advanced technology development and IP licensing in support
of Cirtec’s manufacturing and commercialisation activities. This partnership will
reinforce Cirtec’s ongoing activities in system level miniaturisation for the medical
device industry.

Ilika and Cirtec will now commence the technology transfer and certification process
which will continue throughout the second half of 2023. The Cirtec commercial team
will engage further with the Stereax customer list developed by Ilika and within
their own customer base to expand the commercial opportunities now that the contractual
terms of the agreement have been agreed.

Ilika’s revenue guidance for the next few years remains unchanged for now and the
Company will provide an update on commercial progress at its half year results in
January 2024.

> **Graeme Purdy, Ilika Chief Executive Officer, said:** _“We are delighted to be
> working with Cirtec for the commercialisation of Stereax. Cirtec has a very 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.”_

> **Brian Highley, Cirtec Medical Chief Executive Officer, commented:** _“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.”_

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