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CardieX halted ahead of material commercialisation agreement announcement

The securities will remain in a trading halt until Thursday, September 24 or when an announcement is released to the market.

Cardiex Ltd - Cardiex in trading halt ahead of pending material commercialisation agreement announcement
The company’s subsidiary ATCOR was recently granted a new patent by the European Patent Office

CardieX Ltd (ASX:CDX) has been granted a trading halt pending the company releasing an announcement in regard to the imminent signing of a material commercialisation agreement.

Unless the ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Thursday, September 24, 2020, or when the announcement is released to market.

Shares last traded at 4.9 cents and have been trading higher since closing at 2 cents on June 29.

New patent granted

Last week the company’s subsidiary ATCOR was granted a new patent by the European Patent Office (EPO) to protect the intellectual property (IP) for the company’s proprietary SphygmoCor technology used in cuff-based blood pressure devices.

Patent EP2566387 specifically covers non-invasively estimating the heart’s pressure and pressure waveform with features related to cardiac function and arterial properties using a conventional BP cuff inflated to low pressure.

The patent provides a non-invasive, simple, and operator-independent tool to clinically diagnose the cardiovascular system and estimate the risk of having heart disease which otherwise would require an invasive procedure.

Granting of the European patent follows similar patents already granted to the company in the United States and Japan with the new European patent in force until 2034.

Quick facts: Cardiex Ltd

Price: 0.045 AUD

ASX:CDX
Market: ASX
Market Cap: $37.7 m
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