The Cardiex share price closed higher today as it was announced the company has recieved a new patent. We take a look at the details.
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The Cardiex Ltd (ASX: CDX) share price was rising today as the company announced it had received a new blood pressure patent. The Cardiex share price closed today’s trading 6.12% higher at 5.2 cents.
What Cardiex does
Cardiex is a global health technology company that focuses on hypertension, cardiovascular disease, and other vascular health disorders.
The company’s ATCOR division develops medical devices for measuring arterial stiffness and central blood pressure waveforms based on its unique FDA-cleared and patented technology.
Under the ATCOR.X brand, the company also develops and licenses its Arty platform consisting of physiological and health analytics for wearable devices. The company’s digital platform, ArtyNet, is a connected software-as-a-service (SaaS) ecosystem providing physicians with a complete telehealth solution for remotely managing patients’ health (2021 launch).
Cardiex gets blood pressure patent
It was announced this afternoon that Cardiex’s subsidiary, ATCOR, has been granted a new patent by the European Patent Office. The patent is in relation to the intellectual property (IP) for the Company’s proprietary SphygmoCor technology used in cuff-based blood pressure devices.
The patent protects the company’s IP in relation to the measurement of a whole central blood pressure waveform with cardiovascular features using a brachial cuff. It also covers non-invasively estimating the heart’s pressure with features related to cardiac function and arterial properties using a conventional blood pressure cuff inflated to low pressure.
CEO and Managing Director of Cardiex, Craig Cooper, commented:
We are very pleased to be granted this new patent to protect our IP in Europe. Of great significance is the findings of the examining officers from the EPO which were similar to the findings we received from examiners in the US in 2016 – that there are substantial differences in respect of any other existing patents – further demonstrating and validating the uniqueness of our technology.
What now for the Cardiex share price?
This represents a significant step forward for the company in protecting its IP in Europe. Its SphygmoCor technology has over 4500 installations worldwide. Furthermore, the technology is used by major pharmaceutical companies and research institutions such as GlaxoSmithKline plc (NYSE: GSK), AstraZeneca plc (NYSE: AZN) and Bayer AG (ETR: BAYN).
The Cardiex share price is currently trading 73.33% higher so far this year.
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Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.