Shape-Memory Polymer IP Sublicensed to Medtech OEM

Shape Memory Medical Inc. reports that it has entered into its first sublicense agreement with an unnamed global medtech market leader. Under the agreement, Shape Memory Medical will sublicense its proprietary shape-memory polymer technology for a narrow indication in a therapeutic area outside of its cardiovascular, endovascular, and neurovascular focus. The medical device OEM, in return, will make an upfront license payment and share future milestones and royalties.

Based in Santa Clara, CA, Shape Memory Medical develops novel medical therapies based on a proprietary low-density, porous polyurethane foam. Compressed for low-profile delivery into the body, the foam expands upon exposure to heat and moisture. The so-called smart polymer technology conforms to the patient’s anatomy and stimulates the healing process as the polymer degrades without causing chronic inflammation, according to the company.

Shape memory technology was initially developed at Texas A&M University and Lawrence Livermore National Laboratory. Shape Memory Medical reportedly is the first medical device company to introduce an FDA-cleared medical device using shape-memory polymer technology to the vascular market.

Commenting on the sublicense agreement, Shape Memory Medical President and CEO Ted Ruppel said, “We are excited to have executed this first sublicense agreement with a highly respected medical device manufacturer. 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.”

The company noted that its team combined expertise in polymer chemistry and formulation, medical device development, manufacturing, and clinical research to develop a medical technology platform and pipeline of medical devices for a variety of clinical indications. Its core shape-memory polymer technology offers unique properties including vascular space filling, radiopacity, low radial force, porosity to support thrombus formation, and stimulation of the immune response and healing system, said the company. Shape Memory Medical’s intellectual property portfolio covers the development, manufacture, and clinical application of its novel shape-memory polymer technology.