Helicon buys medical business

SUBIACO-BASED Helicon Group has reached an agreement to buy unlisted medical device company Leading Edge Instruments, which currently controls two new technologies – the BreatheAssist and the Vibrovein.

BreatheAssist is a nasal device that can improve breathing outcomes, sleep and could improve nasal drug delivery.

Vibrovein is an attachment to any needle that can reduce pain and make administering the injection easier.

“The Helicon board is delighted to announce this transaction, which provides Helicon with the opportunity to generate significant revenue in two high potential market segments from Australian developed technologies,” chairman Saliba Sassine said.

ASAP executive director and chairman of the LEI Scientific Committee, Rod Tomilison, said BreatheAssist and Vibrovein had exciting potential.

“While they each offer suitable global licensees an opportunity in billion dollar-plus markets, the risk factor of each is an order of magnitude lower than marketing a new drug molecule or vaccine,” he said.