(Nanowerk News) Alltracel Pharmaceuticals Plc., ("Alltracel" or "the Company"), (AIM:AP.L), the
healthcare innovation group focused on oral care, wound care, cardiovascular
health and dermal health markets, today announces that its Nanopeutics
subsidiary has signed a collaborative technology development agreement with
ConvaTec, a world-leading manufacturer of ostomy and wound care products with a
25-year heritage of caring for patients.
ConvaTec has been working with Alltracel since November 2006, when the initial
primary concept development agreement was announced with a professional wound
care partner. As per the original agreement, today's new technology agreement
will be funded by ConvaTec and its successful conclusion may lead to an
exclusive royalty bearing license and supply agreement between both companies.
As part of the development work under the previous agreement, Alltracel's
healthcare services division (Alltracel Healthcare Services) was also contracted
by ConvaTec to perform laboratory testing and analysis work. The extension of
the collaboration between Alltracel and ConvaTec will also include similar
laboratory testing and analysis work by Alltracel Healthcare Services.
Alltracel's Chief Executive Officer, Tony Richardson commented:
"We are very pleased to announce our continuing collaboration with ConvaTec. Our
new agreement in the area of professional wound care product development further
supports the strength of Alltracel's development work carried out to date for
ConvaTec and we look forward to progressing the commercialisation of our
professional wound care products in 2008 and beyond. The professional wound
care area is an important market for us and we are happy to be collaborating
with a partner of ConvaTec's caliber and heritage. Alltracel's Nanospider(TM)
technology affords many possibilities in this sector and seeks to improve
product performance and assist in the treatment of many patients."
Michael J Lydon PhD, Vice President Global R&D in ConvaTec commented:
"ConvaTec acknowledges the significant commercial opportunities that
nanotechnology presents in the field of professional wound care. This agreement
recognizes our continuing commitment to develop this technology to enhance
products and offer improved wound care solutions for our patients."