WILMINGTON, Mass.--(BUSINESS WIRE)--AdvanSource Biomaterials Corporation (NYSE Amex: ASB), a leading developer, manufacturer and seller of advanced polymer technologies and materials for a broad range of medical devices, today announced that it has received a “Notice of Allowance” from the U.S. Patent and Trademark Office in connection with its antimicrobial patent application filed in June 2007. U.S. Patent No. 7,772,296, which is entitled “Antimicrobial Polyurethane Resins and Products Made Therefrom,” covers a drug-free, antimicrobial technology to eradicate Methicillin-resistant Staphylococcus aureus (“MRSA”) clinical infections associated with medical devices.
The Company believes that infection rates from MRSA, primarily from hospitals and other medical facilities, pose significant risks to patient populations and are increasing in frequency. In fact, the Centers for Disease Control and Prevention estimates that 250,000 catheter-related bloodstream infections cost the U.S. healthcare system about $4.6 billion a year.
The Company’s proprietary manufacturing process is differentiated by an innovative methodology whereby an antimicrobial agent is incorporated during the synthesis of a resin, using the Company’s advanced polymer technologies, which is suitable for molding into medical devices. These antimicrobial formulations are designed to possess a high degree of bacterial “kill.” The resultant antimicrobial polymers may then be used as structural components or as coatings in various catheters, including venus, arterial and urological.
Michael Adams, AdvanSource’s President and Chief Executive Officer, stated, “This patent underscores the strength of our technology team and their capabilities in developing innovative technologies to meet clear market needs. There have been many studies and well-documented evidence in support of the risks associated with infection from invasive and minimally-invasive medical devices, such as catheters. We believe our antimicrobial polymers could now provide medical device developers and manufacturers with a biomaterial choice providing them a competitive advantage in the marketing and sales of medical devices which are constructed or coated with our patented antimicrobial polymers. We are gratified in being able to add this important technology innovation to our growing portfolio of patents.”
About AdvanSource Biomaterials Corporation
AdvanSource Biomaterials Corporation manufactures advanced polymer materials which provide critical characteristics in the design and development of medical devices. The Company’s biomaterials are used in devices that are designed for treating a broad range of anatomical sites and disease states. AdvanSource’s business model leverages its proprietary materials science technology and manufacturing expertise in order to expand its product sales and royalty and license fee income. More information about AdvanSource is available at its website: www.advbiomaterials.com
AdvanSource believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. For further information on such risks and uncertainties, you are encouraged to review AdvanSource’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2010 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2010, and press releases issued subsequent to our filing of our June 30, 2010 Form 10-Q. AdvanSource assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.