(NewsDirect)
Ilika PLC (AIM:IKA, OTCQX:ILIKF) CEOGraeme Purdy speaks to Thomas Warner from Proactive after announcingthe signing of a 10-year agreement with US complex medical devicecompany Cirtec Medical to provide Ilika's Stereax solid-statebatteries.
The deal establishes anexclusive relationship with Cirtech for the use of Stereax batteriesin medical devices and features an initial period of profit sharing,later transitioning into a royalty on net sales, ensuring mutualbenefit. He refers to the deal as an "absolutely fantasticverification and validation" of Ilika's businessmodel.
Purdy suggests that despite Stereax's potentialsuitability for use in sectors such as the Internet of Things,he's always been clear that the initial commercial focus for Ilikaduring Stereax's early life will be on medical devices. He alsomentions what he calls exciting progress with the other side of thebusiness, the much larger Goliath Electric Vehicle (EV) batteries, andsignals more positive developments in the future.
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