Covalon Technologies Ltd.

Covalon Technologies Ltd.

November 19, 2007 07:00 ET

Orthopaedic Trauma Association Funds Research on the use of Covalon's Antimicrobial Coating for Orthopaedic Trauma Implants

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 19, 2007) - Covalon Technologies Ltd. (the "Corporation" or "Covalon") (TSX VENTURE:COV) is pleased to announce that the Orthopaedic Trauma Association (OTA), the premier international organization for orthopaedic trauma surgeons, has announced grant funding for a study titled "Efficacy and Safety of Covalent Bonding of Silver to Orthopedic Trauma Hardware: Investigation of a Novel Coating Technology". This is one of just a few grants given worldwide by the OTA for the study of prominent new technologies in the field of orthopaedic trauma. The study will fund preclinical evaluations over the next year of the efficacy and safety of Covalon's technology for orthopaedic applications.

According to Frank DiCosmo, CEO of Covalon, "Funding of this research by such a prestigious organization like the OTA demonstrates the tremendous clinical need for innovative solutions to combat infection in orthopaedics. Covalon is proud to work with the OTA to provide solutions to these clinical problems. The orthopaedic market for Covalon's coating represents a new and potentially large opportunity for revenue generation while continuing to leverage Covalon's technical expertise and competitive advantages. Additionally, it is gratifying as a company to potentially contribute to improving the health and outcomes of patients worldwide."

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 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.

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Contact Information

  • Covalon Technologies Ltd.
    Frank DiCosmo, Ph.D.
    President & CEO
    (905) 568-8400
    (905) 568-5200 (FAX)