Covalon Technologies Ltd.

Covalon Technologies Ltd.

December 17, 2008 11:00 ET

Covalon Awarded CE Marking for Collagen Dressings in the European Union

MISSISSAUGA, ONTARIO--(Marketwire - Dec. 17, 2008) - Covalon Technologies Ltd. (TSX VENTURE:COV) is pleased to announce it has received CE Marking for BIOSTEP™, collagen dressing.

Dr. Sonia Sanhueza Chief Operations Officer at Covalon said: "Our award of CE Marking reflects the organization's commitment to manufacture the best-of-the-best in high-quality products for the advanced wound care market. Achieving this important milestone offers Covalon's customers a quality partner that has a demonstrated ability to help them achieve their business initiatives in the EU as well as North America."

CE Marking on BIOSTEP™ :

1. is Covalon's declaration that the product complies with the requirements of the EU's health, safety and environmental protection legislation established by the applicable European standard directives;

2. indicates that BIOSTEP™ may be legally placed on the market in the EU;

3. ensures the free movement of BIOSTEP™ within the European Free Trade Association (EFTA) (with the exception of Switzerland) and EU single market (total 28 countries);

Dr. Frank DiCosmo, CEO and President of Covalon commented: "We are very pleased that the company has received CE Marking for BIOSTEP™ Collagen Wound Dressings in the EU. The CE Marking enhances the confidence in our advanced collagen wound dressings, improves our product portfolio and marketability. In addition, the CE Marking allows our partner, Smith & Nephew, access to the EU marketplace."

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

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.

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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 x 246
    (905) 568-5200 (FAX)