25th May 2022 14:35
(Alliance News) - Cheshire-based Advanced Medical Solutions Group PLC on Wednesday said it has received approval from the US Food & Drug Administration for its new device LiquiBand XL.
Advanced Medical Solutions said LiquiBand XL is a device which consists of a surgical mesh which is used to close wounds and glue which is used to strengthen the closure and prevent infection.
The product is expected to launch in the US in the third quarter of 2022, while the device has been used in Europe since last year.
Advanced Medical Solutions said the approval of LiquiBand XL will provide access to a new USD60 million market in the US and strengthen the brand's portfolio.
Chief Executive Chris Meredith said: "There is strong demand for the product from hospitals and our distribution partners and we are confident that it will make a significant impact in the market and will play a critical role in strengthening the market share of the entire LiquiBand franchise."
Shares in Advanced Medical Solutions were up 1.9% to 282.80 pence each in London on Wednesday afternoon.
By Sophie Rose; [email protected]
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