Covalon Technologies Ltd.
TSX VENTURE : COV

Covalon Technologies Ltd.

August 16, 2007 10:37 ET

Covalon Advances its Antimicrobial Coating to be Non-Blood-Clotting for Venous Access Catheters and Devices

MISSISSAUGA, ONTARIO--(Marketwire - Aug. 16, 2007) - Covalon Technologies Ltd. (the "Corporation" or "Covalon") (TSX VENTURE:COV) announced a significant development by producing a covalently-bonded, silver-ion releasing antimicrobial and low-blood-clotting coating that can be applied to a wide variety of blood-contacting catheters and devices in order to minimize potential for blood-clot formation.

Indwelling catheters are associated with very serious infections such as catheter associated urinary tract infection (CAUTI) and catheter-related bloodstream infection (CR BSI). Central Venous Catheters (CVC) and urological catheters are the most susceptible to bacterial growth causing infection; each year 200,000 CR BSI are caused by CVCs in U.S. hospitals. Together, these two categories of devices account for about 50% of total hospital infections. Antimicrobial coatings could be an effective solution to this growing concern. Furthermore, blood-contacting medical devices such as peripherally inserted central catheters (PICC) and CVC, etc. are susceptible to vascular access-related infections and blood-clotting. Blood clots on the surface of devices raise significant concerns for stroke, heart attack, pulmonary embolism and conditions related to impaired blood flow. Prolonged hospital stay, morbidity or mortality and serious economical consequences are a result of infections and blood-clotting-related events caused by a variety of vascular access devices.

Covalon's antimicrobial and low-thrombogenic coating can be applied to a wide variety of in-dwelling, blood contacting devices for reducing the incidence of hospital acquired infection as well as reducing thrombogenecity. Effective antimicrobial and low-thrombogenic coated catheters may reduce infection and thrombus formation thus improving patient outcome. Antimicrobial CVC are expected to experience a growth rate approximately 5-fold greater than that of un-coated CVC. It is estimated that by 2009, sixty-nine percent (69%) of all CVC used will be antimicrobial (Frost and Sullivan, U.S. Antimicrobial Devices Markets, 2003). Hospital-acquired infections affect approximately 2 million people in the United States each year, and cost over $11 billion to the healthcare system (Frost and Sullivan, U.S. Antimicrobial Coating Markets, 2006). The total antimicrobial catheters market is projected to attain revenues of US $ 375 million by 2009 (Frost and Sullivan 2006).

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 news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release, and has neither approved nor disapproved of the contents of this release.

Contact Information

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