SAN DIEGO--(BUSINESS WIRE)--Access Scientific, Inc. and AdvanSource Biomaterials Corporation (OTC Markets OTCQB:ASNB) today announced agreement on a multi-year, exclusive supply agreement for ChronoFlex® C to be used in the POWERWAND®, the new extended dwell, power-injectable catheter from Access Scientific.
Access Scientific produces The WAND® line of catheters that make possible the proprietary Accelerated Seldinger Technique. AdvanSource Biomaterials Corp. is a leading developer of advanced polymer materials for a broad range of medical devices. ChronoFlex C is a specialized aromatic polycarbonate polyurethane developed by AdvanSource Biomaterials to optimize catheter performance.
“As our first prospective, clinical study will soon attest, the performance of ChronoFlex C, when combined with The POWERWAND’s Accelerated Seldinger Technique and other unique WAND features, delivers the finest performance of any catheter in the history of vascular access,” said Steve Bierman, M.D., CEO of Access Scientific. Results of that study will be presented in an Exhibitor Theater on May 23, 24 and 25 at the Infusion Nurses Society annual meeting, in Louisville, Ky.
The POWERWAND is designed to transform the inpatient experience, by allowing many if not most patients to have one and only one needlestick for vascular access throughout their hospitalization. The medical device can be used both for the administration of fluids/medications and for withdrawing blood for diagnostic tests.
Under the Agreement, Access Scientific will have exclusive rights to ChronoFlex C for use in midline catheters. A midline catheter is defined by the Centers for Disease Control and Epidemiology as between 3 and 8 inches in length.
The newly announced agreement provides AdvanSource Biomaterials with a multi-year, multimillion-dollar opportunity based in part on advancing sales of The POWERWAND.
“We are pleased with this opportunity to expand our commercial relationship and partnership with Access Scientific,” said Michael Adams, President and CEO of AdvanSource Biomaterials. “Drawing upon our expertise, competence and expanding portfolio of custom polymer materials in support of the medical device community, we believe the materials developed for Access Scientific will aid in optimizing their medical device design criteria. This relationship is consistent with our partnership-oriented business model, which we believe supports expansion of royalty- and product-revenue growth opportunities.”
About Access Scientific
Access Scientific, a privately held medical device company, is dedicated to providing a safer standard of over-wire vascular access through its proprietary WAND technology. ASI's team of seasoned device-company veterans is focused on improving patient and healthcare worker safety through the combination of superb design/engineering and exacting quality assurance. The WAND was developed by the same Venetec International, Inc. team that invented StatLock® catheter stabilization devices and made them the worldwide standard.
For further information on the company, go to www.The-Wand.com, email Customer Service at PCook@the-wand.com, or call 858-259-8333.
About AdvanSource Biomaterials Corp.
AdvanSource Biomaterials Corp. 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.
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