Premier in hunt for commercial partner

Premier Bionics (ASX:PBI) is ramping up its efforts to find a commercial partner for its Airway Clear sleep apnoea monitoring device.

According to CEO Dr Martin Soust, Premier has already been in discussions with a couple of companies in the sleep apnoea and ventilator market, but now is planning to formally solicit expressions of interest from a number of companies.

"In line with forecasts we are continuing to accelerate our commercialisation activities and have established high level contact with many of the leading companies in the field of CPAP and/or mechanical ventilation. By the end of November 2003 we will be in a position to forward documents providing full disclosure of our technology for the purpose of pursuing detailed discussions with these potential partners," he said.

The company is planning to begin a larger multi-centre clinical trial in April 2004, with or without a partner.

"We're happy to proceed with the clinical trial on our own if necessary, although ideally we would like to have a partner on board when we start the trial," Soust said.

"In reality, what we're looking for here is someone with experience taking devices to market and clinical trials capabilities."