Convatec announces licence agreement
22 December 2008 00:00 in Medical Company Financials
Convatec has announced a licence agreement with Boehringer Technologies.
As a result of the collaboration, Convatec is set to acquire exclusive worldwide rights for a negative pressure wound therapy system.
The long-term licence agreement will also incorporate Bio-Dome Interface Technology.
Launched in 2007, Boehringer's Engenex Negative Pressure Wound Therapy (NPWT) System is a technology and engineering method that uses the application of negative pressure to a wound, in an attempt to promote healing by removing excess fluid and creating controlled tissue strain.
David Johnson, chief executive officer of Convatec, said the collaboration is "further evidence" of the company's expansion of offerings to treat acute and chronic wounds.
"Negative Pressure Wound Therapy is one of the largest and fastest growing market segments in Wound Management and we are thrilled to be partnering with Boehringer to help bring advanced solutions to our customers worldwide," he added.
Under the terms of the development and licence agreement, Convatec will receive exclusive global marketing and distribution rights for the Engenex NPWT System.
Convatec has four key business divisions - ostomy care, wound therapeutics, continence and critical care and infusion devices.
Based in Skillman, US, the company employs more than 8,000 people in over 90 countries and serves consumers and health care professionals in six continents.
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