SOURCE: Exciton Technologies

March 08, 2016 10:00 ET

Exciton Technologies Inc. Makes Turn to Profitability

Expands Global Licensing Agreement and Manufacturing Facilities

EDMONTON, AB--(Marketwired - March 08, 2016) - Exciton Technologies Inc. ("Exciton"), creator of the patented infection-fighting Silver Oxysalts technology, has made a pivotal turn to profitability through expansion of its license agreement with Crawford Healthcare Ltd. ('Crawford'), the UK's fastest growing wound care company. Exciton has been working with Crawford since 2013 but, following what Crawford calls "a dramatic market response to the use of this patented technology in both the US and the UK," the companies have now expanded to an exclusive global arrangement for a broader range of products. Commenting on the deal, Crawford's Healthcare CEO, Richard Anderson said, "We now have an unrivalled antimicrobial platform to tackle the issue of secondary infections faced by clinicians the world over."

According to a national stakeholder roundtable meeting of key opinion leaders, wound care takes a surprising economic toll of $3.9 billion each year in Canada alone. "Wounds are a major and under-recognized health issue reducing the quality of life for millions," states Rod Precht, President and Founder of Exciton Technologies. Exciton's flagship technology has challenged the industry to take a closer look at silver for the treatment of serious wounds such as burns and chronic ulcers. "Sales have been growing steadily and we believe the expansion of our partnership with Crawford will catapult this next generation of wound care products to become the standard of care." 

Exciton remains the exclusive manufacturer to Crawford, requiring an expansion of its operation at TEC Edmonton to meet the increasing demand. The expansion also facilitates commercialization of new applications utilizing the Silver Oxysalts platform. 

"At TEC Edmonton, we measure our success by how well our clients are doing, and Exciton has always been one of our success stories," said Chris Lumb, CEO of TEC Edmonton, an accelerator for early stage technology companies. "Their people exemplify the best qualities of Edmonton-based innovation and entrepreneurship. We're honored to continue to support their growth as they prepare to expand their manufacturing facilities."

About Exciton Technologies Inc.
Exciton Technologies is a commercial stage advanced materials development and manufacturing company, based in Edmonton, Alberta focused on the commercialization of technology for preventing and controlling infection. Exciton has developed a portfolio of proprietary processes to incorporate its Silver Oxysalts (Ag Oxysalts™) technology into a range of products, including Exsalt® T7 and SD7 dressings, targeting the advanced wound care market.

Silver Oxysalts technology is based on a unique compound containing higher oxidation states of silver (+2 and +3), which are more effective than lower states (0 and +1). Silver has a long history of safety and efficacy as a topical wound treatment.

Forward-looking Statements

This press release may contain forward-looking statements. Forward-looking statements, including the Company's belief as to the potential of its products, the Company's expectations regarding the issuance of additional patents and the Company's ability to protect its intellectual property, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the ability to economically manufacture its products, the potential of its products, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize its products, the ability of the Company to defend its patents from infringement by third parties, and the risk that the Company's patents may be subsequently shown to be invalid or infringe the patents of others. Investors should consult the Company's quarterly and annual filings with the Canadian commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements.

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