ERJ staff report (TP)
Ontario, Canada − Covalon Technologies announced that it has licensed its antimicrobial silicone adhesive technology to Molnlycke Heath Care.
The press release said: “Under the license agreement, Covalon has granted Molnlycke the exclusive rights to exploit Covalon's patent-pending antimicrobial silicone adhesive technology in the field of single-use surgical, wound care and vascular access medical dressings.
“Covalon will receive $3.5m (€2.6bn) in upfront license fees and additional ongoing minimum royalties, milestone payments and other fees. Covalon retains the rights to exploit the antimicrobial silicone adhesive technology in other fields and commercialise new life-saving products in its development pipeline while continuing to distribute its other products.
“Covalon's antimicrobial silicone adhesive technology is the key component of IV Clear and SurgiClear, a transformative technology in the medical dressing market because it is extremely gentle on the skin and has powerful antimicrobial capabilities.”
Brian Pedlar, Covalon's CEO, said, "With some 7,400 staff across over 30 countries and over 1.7bn medical dressings and surgical products made per year, Molnlycke is the clear market leader in silicone wound dressings."
According to their website: “Covalon was founded by a group of entrepreneurial PhDs from the University of Toronto who recognised an opportunity to serve the global community through the development of patented medical technology in the areas of infection control, advanced wound care and medical coatings. Covalon became a publically traded company in 2004.”
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Press release from Covalon