Healthcare Industry News: venous insufficiency
News Release - March 28, 2007
Derma Sciences Announces Licensing Agreement with C-Boot Ltd to Market MOBILITY-1 for Treatment of Vascular Diseases
PRINCETON, N.J.--(HSMN NewsFeed)--Derma Sciences, Inc. (OTCBB: DSCI ), a manufacturer and full line supplier of wound and skin care products, today announced that it has obtained a licensing agreement with C-Boot LTD, a medical biosystems company based in Israel, for the marketing, sales and distribution rights of C-Boot's patented advanced therapeutic devices for the treatment of Chronic venous insufficiency (CVI), Deep Vein Thrombosis (DVT) prevention, venous ulcers, lymphedema, and other conditions that require compression therapy, including the enhancement of blood circulation during recovery from coronary artery bypass graft surgery and orthopedic hip and knee replacements. C-Boot's products, which will be marketed by Derma Sciences under the MOBILITY-1(TM) brand, include a lightweight wearable dynamic compression device that periodically inflates and deflates thereby producing segmented and therapeutically significant compression. The technologies inherent within the device are covered by several US patents."MOBILITY-1 is a significant advancement in the treatment of patients with various vascular diseases because it meets a previously unfilled patient need," said Barry J. Wolfenson, VP of Marketing & Business Development. "Many vascular diseases are treated with intermittent pneumatic compression (IPC) therapy. Until now, IPC therapy has required that the patient remain immobile while hooked to a large pneumatic compressor. Where an ambulatory treatment is available, it has been limited to compression wraps and stockings which have low compliance, are painful, and do not provide optimal therapy. MOBILITY-1 takes the concept of IPC therapy much further. Rather than a therapy that is predicated on a patient being immobile, MOBILITY-1 is activated by the patient's own kinetic energy created from walking around. The patient also has the option to use a small, portable compressor (currently under review by the FDA). In addition to receiving optimal treatment, a key benefit is that MOBILITY-1 will allow the patient to maintain a regular lifestyle, taking therapy wherever they go. That makes this treatment the first and only one of its type in the world."
Edward J. Quilty, Chairman, President and CEO added, "The MOBILITY-1 device fits perfectly with our goal of advancing wound care by uncovering technological innovations, empowering caregivers, and focusing on patient's unmet needs. The members of our Clinical Advisory Board, which include several prominent vascular surgeons, have said that clinicians always wondered when someone would develop a portable IPC device for lymphedema and CVI. We are thrilled that we have the opportunity to bring this novel product to market."
Amit Ben Dror, CEO and founder of C-Boot Ltd, said, "We are extremely enthusiastic in teaming with Derma Sciences and we believe that the partnership between our two companies will create major benefits to patients and healthcare providers. We believe that our cutting edge/breakthrough technology together with Derma Science's marketing capabilities is an excellent fit that will be synergistic for both companies."
A study conducted by Frost & Sullivan estimates that the IPC market for venous ulcers alone reached $156 million in 2006. The Company believes that market becomes significantly larger when accounting for patients with lymphedema and other chronic venous insufficiencies. The Company believes MOBILITY-1 will become the gold-standard for treatment of vascular diseases currently treated with IPC therapy. Upon receipt of certain Medicare reimbursement codes, the agreement becomes exclusive, will extend for an initial term of 7 years and covers the U.S. and Canada.
About Derma Sciences, Inc.
Derma Sciences, Inc. provides a full range of skin care; wound management and specialty securement devices that are used primarily in the professional markets, specifically hospitals, nursing homes and home care settings. For more information about Derma Sciences, Inc., visit its home page on the Internet at http://www.dermasciences.com.
Forward-looking Statements
Statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned, that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements which may be made in this release or which are otherwise made by or on behalf of the Company. Factors which may affect the Company's results include, but are not limited to, product demand, market acceptance, impact of competitive products and prices, product development, completion of an acquisition, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements Include but are not limited to, those discussed in the Company's filings with the Securities and Exchange Commission.
Source: Derma Sciences
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