CathRx Ltd (CXD) announced that it is has moved from a memorandum of understanding with GMMI Sdn Bhd and has signed a Manufacture and Supply Agreement which formalizes the basis under which GMMI will manufacture products for CathRx. The signing demonstrates further progress in CathRx’s strategy to: be a specialist catheter manufacturer/technology design house focused on the design and development of a proprietary suite of modular single use cardiac catheter products; have modular manufacturing contracted through a third party manufacturer; establish licensing arrangements with strategic organisations who have regulatory and marketing expertise to supply and market the CathRx modular cardiac catheter suite in their respective markets.
CathRx is a medical device company which designs reprocessable cardiac catheter solutions for the treatment of people suffering from electrical problems of the heart known as cardiac arrhythmias. CathRx’s proprietary diagnostic and therapeutic catheters are designed to give physicians the tools to cost effectively treat patients with speed, safety and precision. Cardiac arrhythmia describes a group of increasingly common conditions where there is abnormal electrical activity in the heart. The beating of a normal heart is controlled by electrical impulses. When these impulses are uncoordinated the heart fails to function properly. This can result in complications ranging from fatigue to stroke and even death. More than 10 million people worldwide suffer from abnormal heart rhythms. Atrial fibrillation is the most common form of arrhythmia and affects over 5 million people worldwide. Current drug therapies often fail to control the problem and can have side effects. Cardiologists worldwide are increasingly using cardiac catheters to diagnose and successfully treat arrhythmias.