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BPH Energy (ASX:BPH) Shares Climb ~68%, Investee Cortical Bags European Patent and Makes New Appointment

Summary

  • BPH Energy Ltd (ASX:BPH) investee Cortical has announced the issuance of the European patent in the United Kingdom, France, Belgium, and Germany.
  • Cortical has also appointed a new member to its Advisory Committee - Mr Jamie Stanistreet.
  • Cortical is actively progressing with the commercialisation of BARM in multiple jurisdictions.

BPH Energy Ltd (ASX:BPH) investee Cortical Dynamics Ltd has recently updated the market on its patent coverage and appointment of the advisory panel.

BPH Energy shares are trading ~68 per cent higher at $0.094 as at 1:50 PM AEDT.

Cortical has declared the issuance of European Patent Number 2088924 “Neurodiagnostic Monitoring and display System” in the United Kingdom, France, Belgium, and Germany. Moreover, the medical device player confirmed the appointment of a new member, Jamie Stanistreet, to its Advisory Committee.

Notably, BPH Energy is the largest shareholder in Cortical and holds a significant 16.1 per cent stake in the latter. Cortical’s industry disruptive brain function monitor competitive advantage has been recognised by prominent world experts in anaesthesia.

Strong Patent Position

Cortical has developed a comprehensive patent portfolio encapsulating the Brain Anaesthesia Response Monitor, providing critical patent protection throughout several key brain monitoring markets. The issuance of European Patent has further strengthened Cortical’s existing patent position, covered by 26 granted patents and six patent families.

At present, the medical device company has patents awarded in the People’s Republic of China, Australia, Europe, New Zealand, Japan, and the United States.

Furthermore, Cortical is actively progressing with the commercialisation of its BAR Monitor. In December 2020, BPH Energy investee secured the approval from the Korean Ministry for Food and Drug Safety (KMFDS) to sell its advanced BARM in the South Korean market.

Advisory Panel Appointment

The newly appointed member to the Advisory Committee, Mr Jamie Stanistreet, will bring extensive experience to Cortical. Mr Stanistreet is an accountant by trade, who holds more than 40 years of experience in the medical device sector.

He was one of the finalists in the CEO Magazine Executive of the year award 2014 – 2015. Besides, he won the Outstanding Achievement Award 2013 inaugurated by the Medical Technology Association of Australia.

Mr Stanistreet has served as Vice Chairman with the Medical Technology Association of Australia for many years and was a member of the APAC leadership team.

Additionally, he worked with the world's largest medical device company, Medtronic, from 2001 to 2018. Medtronic’s focus on medical devices incorporates surgery, brain modulation, cardiology, spine, diabetes, ENT, pain, and stroke. Jamie was the Managing Director and Vice President of Medtronic Aust /NZ during his service at the company. Interestingly, Medtronic’s revenue grew ten-fold under his tenure at the firm, where he managed more than 950 employees.

All in all, Mr Stanistreet’s connections, knowledge and experience will be indispensable to the commercial development of BPH Energy investee Cortical. Moreover, Cortical intends to continue maintaining its intellectual property, drive the development of the BAR Monitor, and concentrate on attaining regulatory approvals for the BARM.

Interesting Read: How BPH Energy’s (ASX:BPH) Investee Advent is Going from Strength to Strength?

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