Healthcare Industry News: Covalon Technologies
News Release - February 7, 2006
Covalon Receives FDA Approval for CovaClear AgMISSISSAUGA, Ontario--(HSMN NewsFeed)--Feb. 7, 2006--Covalon Technologies Ltd. ("Covalon") (TSX VENTURE:COV ) announces that it has received 510(k) approval from the FDA, for CovaClear Ag(TM), Collagen with silver Antimicrobial Gel Sheet Dressing. CovaClear Ag(TM) is the only hydrated collagen dressing with antimicrobial silver available in the market.
Dr. DiCosmo, President and CEO stated that CovaClear Ag(TM) will be a unique product in the market place for a number of reasons:
- It is the only hydrated collagen-based silver ion-releasing dressing in the marketplace. A moist wound healing environment is known to improve the healing process and reduce scarring.
- It contains silver ion which is a broad spectrum antiseptic that allows the dressing to be an effective antimicrobial barrier.
- The dressing is transparent and allows clinicians to monitor high risk wounds without having to remove the dressing.
The introduction of CovaClear Ag(TM) is an expansion of Covalon's wound dressing and tissue repair product offerings. Covalon looks forward to offering this dressing through a number of distributors in the wound care market on a non-exclusive basis.
According to the 2000 Clinica Reports "New Developments in Wound Care", the wound care market, world wide, exceeds $15 Billion US per year. CovaClear Ag(TM) hydrated collagen antimicrobial wound dressings are indicated for the management of full and partial thickness wounds. The total US market for moist dressings (hydrocolloids / hydrogels) exceeds $500 million per year.
Covalon Technologies Ltd. is a company with advanced medical products that has developed and patented advanced therapeutic biomaterials for wound care and surgical applications and coatings. Polymer chemistry and surface coating technology have been combined to create a range of time-release drug delivery platforms that are applied to many medical devices to treat many critical conditions. A variety of applications for these technologies have been identified and specific products have been developed. The products offer features and benefits providing solutions to many of the problems caused by current devices and their material properties which are used by most medical device manufacturers and suppliers. The problems include infection, poor biocompatibility, and microbial attachment.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release.
Source: Covalon Technologies
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