Covalon Technologies Ltd.
TSX VENTURE : COV

Covalon Technologies Ltd.

October 05, 2007 09:01 ET

Covalon Announces New Chief Operating Officer

MISSISSAUGA, ONTARIO--(Marketwire - Oct. 5, 2007) - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSX VENTURE:COV) is pleased to announce that Dr. Sonia Sanhueza has been promoted to Chief Operating Officer at Covalon, effective October 1, 2007. Mr. William Jackson, who previously held the title of COO, will continue as the Company's Chief Financial Officer, and will also take on the role of Chief Business Officer.

Dr. Sanhueza has been Covalon's Vice President of Clinical & Regulatory Affairs and Operational Processes since January 2007. She has more than 20 years of regulatory, clinical, project management and R&D experience in the pharmaceutical, biological and medical device industries.

Mr. Jackson has been with Covalon since its inception in late 1999, and the Company's board of directors credits Mr. Jackson for his valuable contributions. The Company's recent growth has necessitated the separation of Mr. Jackson's previous responsibilities as both CFO and COO. "It's exciting to see that Covalon has matured to the point where the separation of roles is required to take the Company through the next stage of success", stated Mr. Jackson.

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.

This document contains forward-looking statements. These statements relate to future events or future performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of any of these terms or comparable terminology. Such statements reflect the current views of management of the Company with respect to future events. Actual events or results may differ materially. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

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 neither approved nor disapproved of the contents of this release.

Contact Information

  • Covalon Technologies Ltd.
    Frank DiCosmo, Ph.D.
    President & CEO
    (905) 568-8400
    (905) 568-5200 (FAX)
    Website: www.covalon.com