5th Apr 2005 07:01
Advanced Medical Solutions Grp PLC05 April 2005 For Immediate Release 5 April 2005 Advanced Medical Solutions Group plc ("AMS" or "the Company") Announces collaboration with strategic partner for marketing of wound closureproducts in the US market Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the globalwoundcare technology company, is pleased to announce that it has signed acollaboration agreement with a major healthcare company for US regulatoryapproval and subsequent marketing and distribution of its medical gradecyanoacrylate (super-glue) tissue adhesives for wound closure. These productsare currently sold in Europe under the LiquiBandTM brand. The global wound closure market is estimated at $5 billion of which around $100million comprises tissue adhesives. This is a rapidly expanding segment and itis estimated that nearly half the wounds traditionally closed by sutures,staples and adhesive strips are suitable for tissue adhesives. LiquiBandTM is the leading brand of adhesives in the UK Accident and Emergency(A&E) arena. The introduction of LiquiBand SurgicalTM during 2004 for closureof surgical incisions in the operating room setting has taken the technologyinto the largest segment of the wound closure market. Following CE markapproval, these products are now available throughout Europe. AMS has been seeking a strategic partner to support the regulatory approvalprocess in the US market as part of gaining exclusive marketing and distributionrights to the products going forward. This involves the strategic partnerfunding the necessary clinical studies as part of a PMA submission. Approval forsale is expected to take around 18 months. Commenting on today's announcement, Dr. Don Evans, Chief Executive of AMS, said: "There has been a high level of interest from potential partners who see theopportunity of replicating the success achieved in the very competitive UKmarket in the much larger US market. I am delighted that we have secured anagreement with a major healthcare company to move forward through the regulatoryapproval process and enter the US market with a product range that is wellproven and successful in Europe." - ENDS - For further information, please contact: Advanced Medical Solutions Group plc Tel : +44 (0) 1606 545508Don Evans, Chief ExecutiveMary Tavener, Finance Directorwww.admedsol.com Buchanan Communications Tel: +44 (0) 20 7466 5000Mark Court, Mary-Jane Johnson Notes to Editors: Advanced Medical Solutions is a leading company in the development andmanufacture of products for the $15 billion global woundcare market. Founded in 1991 and currently quoted on AIM, Advanced Medical Solutions isfocused on the design, development and manufacture of innovative andtechnologically advanced products for woundcare and other medical applications. In-house natural and synthetic polymer technology is used to provide advancedwound dressings based on the moist healing principle. AMS's resources ensure aunique position as a vertically integrated 'one stop shop' to provide allcategories of moist wound healing products. The Company has the capability tomove from product design and development through to production and deliveryready for distribution into customer markets. The acquisition of MedLogic in 2002 has brought AMS products and technology incyanoacrylate based tissue adhesives that offer benefits over sutures andstaples for closing wounds sold direct to hospitals or through distributors. AMS's technology and products currently serve the majority of the key globalmarkets with strategic partners including 3M, Novartis, Johnson & Johnson,Molnlycke Healthcare, Smith + Nephew and Cardinal Health. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Advanced Medical Solutions Group