Covalon Technologies Ltd.

Covalon Technologies Ltd.

November 12, 2007 13:54 ET

Covalon Announces New Collagen-Based Wound Dressings That Restore a More Normal Healing Environment

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 12, 2007) - Covalon Technologies Ltd. (the "Corporation" or "Covalon") (TSX VENTURE:COV) today announced the launch of BIOSTEP™ and BIOSTEP Ag, the latest products using its proprietary collagen technology for the treatment of chronic wounds. The products were introduced by Covalon's commercial partner Smith & Nephew's (NYSE:SNN)(LSE:SN) Advanced Wound Management division, at the Clinical Symposium in Advanced Wound Care in Nashville, Tennessee, on October 11, 2007.

The unique and innovative BIOSTEP products create a moist wound healing environment, deactivate harmful wound proteases and promote tissue growth in chronic wounds, which affect an increasingly large number of patients and have a serious impact on their quality of life.

Smith & Nephew Advanced Wound Management has an exclusive worldwide sales, marketing and distribution agreement with Covalon for its advanced range of collagen dressings. The agreement also grants access and distribution rights to an exciting and differentiated new product development portfolio in the field of advanced wound care.

"Covalon is very pleased to be working with Smith & Nephew in helping to bring BIOSTEP and BIOSTEP Ag to clinicians", said Dr. Frank DiCosmo, Covalon CEO. Smith & Nephew and Covalon share the same dedication to helping improve peoples' lives. Combining the two companies' scientific and sales and marketing capability is making this possible."

Dr. Robert Lewis Williams, MD, CWS, APBM/UHM, Southeast Texas Center for Wound Care and Hyperbaric Medicine, Texas, U.S.A. said: "With adequate attention to principles of wound bed preparation, Biostep is an excellent tool. As a new generation collagen matrix, BIOSTEP encourages granulation, facilitates epithelisation while optimizing wound bed moisture and limiting microbial growth with overall results of enhancing wound healing."

BIOSTEP™ and BIOSTEP™Ag are manufactured in the U.S.A. by Covalon Technologies Ltd., exclusively for Smith & Nephew; ™ Trademark of Smith & Nephew.

About Covalon Technologies

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.

About Smith & Nephew

Smith & Nephew Advanced Wound Management ("Smith & Nephew" or the "Company") is headquartered in the United Kingdom. The organization has manufacturing centres in the United Kingdom and Largo, FL.

Smith & Nephew is a global medical technology business, specializing in Orthopaedic Reconstruction, Orthopaedic Trauma and Clinical Therapies, Endoscopy and Advanced Wound Management products. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies.

Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The Company operates in 32 countries around the world. Annual sales in 2006 were nearly $2.8 billion.

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 Corporation 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 Corporation 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.
    (905) 568-8400
    (905) 568-5200 (FAX)