Posted: November 12, 2007

Alltracel Pharmaceuticals Plc Announces Nanopeutics Agreement

(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."
Source: Alltracel Pharmaceuticals
Subscribe to a free copy of one of our daily
Nanowerk Newsletter Email Digests
with a compilation of all of the day's news.
These articles might interest you as well: