Wound care technology agreement
Hoping to tap into the lucrative U.S. military market, Nanopeutics s.r.o.
Register for free to listen to this article
Listen with Speechify
0:00
5:00
LIBEREC, Czech Republic—Hoping to tap into the lucrative U.S. military market, Nanopeutics s.r.o. announced it signed an exclusive technology and product concept development agreement with Portland, Or.-based HemCon Medical Technologies, specialists in hemorrhage control. Financial terms were not disclosed. The deal is expected to evolve into the commercialization of Nanospider technology, which involves a chitosan-based mesh that supports wound healing.
"Initial product tests on Nanospider-spun chitosan are very encouraging and we are excited to be working with the Nanopeutics teams on the development of this breakthrough technology for the specialist military markets," says John W. Morgan, HemCon president and CEO.
Dramatic improvements in medical device technologies have led to significant growth in the wound care market in recent years, and according to a November 2006 report by Frost & Sullivan, the market is expected surpass $3 billion by 2012 in Europe alone. "Superior clinical outcomes in terms of healing, and reduced infection rates have increased their acceptance and usage by doctors," says Frost analyst Kavitha Ravikumar.
Nanopeutics was formed as a joint venture by Alltracel Pharmaceuticals plc and Elmarco s.r.o. specifically to market Nanospider technology in such a manner and therefore the current deal represents a significant success for the two partners.
