Covalon Technologies Ltd.

Covalon Technologies Ltd.

March 27, 2008 07:00 ET

Covalon Receives Canadian Patent for Drug Delivery via Therapeutic Hydrogels

MISSISSAUGA, ONTARIO--(Marketwire - March 27, 2008) - Covalon Technologies Ltd. ("Covalon") (TSX VENTURE:COV) is extremely pleased to announce that it has received a Notice of Allowance for a Canadian patent entitled: Drug delivery via therapeutic hydrogels (Patent Application No. 2,286,644).

The technology can be used for site-specific delivery of several drugs in a time-release fashion from combination medical devices. The patent augments and strengthens Covalon's technology position in the expanding area of combination medical devices. The devices that may benefit from the technology include implantable medical devices, wound closure systems and wound dressings that can contain a variety of active agents such as antibiotics, hormones, growth factors and other therapeutics that are beneficial for the medical condition under management.

Covalon Technologies Ltd. is an advanced medical biosystems company 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 in no way passed upon the merits of the proposed transaction 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
    Covalon Technologies Ltd.
    Francis K. Lindayen, CA
    (905) 568-8400
    (905) 568-5200 (FAX)