Advanced Medical Solutions Grp PLC
05 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 closure
products in the US market
Winsford, UK: Advanced Medical Solutions Group plc (AIM: AMS), the global
woundcare technology company, is pleased to announce that it has signed a
collaboration agreement with a major healthcare company for US regulatory
approval and subsequent marketing and distribution of its medical grade
cyanoacrylate (super-glue) tissue adhesives for wound closure. These products
are currently sold in Europe under the LiquiBandTM brand.
The global wound closure market is estimated at $5 billion of which around $100
million comprises tissue adhesives. This is a rapidly expanding segment and it
is 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 closure
of surgical incisions in the operating room setting has taken the technology
into the largest segment of the wound closure market. Following CE mark
approval, these products are now available throughout Europe.
AMS has been seeking a strategic partner to support the regulatory approval
process in the US market as part of gaining exclusive marketing and distribution
rights to the products going forward. This involves the strategic partner
funding the necessary clinical studies as part of a PMA submission. Approval for
sale 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 the
opportunity of replicating the success achieved in the very competitive UK
market in the much larger US market. I am delighted that we have secured an
agreement with a major healthcare company to move forward through the regulatory
approval process and enter the US market with a product range that is well
proven and successful in Europe.'
- ENDS -
For further information, please contact:
Advanced Medical Solutions Group plc Tel : +44 (0) 1606 545508
Don Evans, Chief Executive
Mary Tavener, Finance Director
www.admedsol.com
Buchanan Communications Tel: +44 (0) 20 7466 5000
Mark Court, Mary-Jane Johnson
Notes to Editors:
Advanced Medical Solutions is a leading company in the development and
manufacture of products for the $15 billion global woundcare market.
Founded in 1991 and currently quoted on AIM, Advanced Medical Solutions is
focused on the design, development and manufacture of innovative and
technologically advanced products for woundcare and other medical applications.
In-house natural and synthetic polymer technology is used to provide advanced
wound dressings based on the moist healing principle. AMS's resources ensure a
unique position as a vertically integrated 'one stop shop' to provide all
categories of moist wound healing products. The Company has the capability to
move from product design and development through to production and delivery
ready for distribution into customer markets.
The acquisition of MedLogic in 2002 has brought AMS products and technology in
cyanoacrylate based tissue adhesives that offer benefits over sutures and
staples for closing wounds sold direct to hospitals or through distributors.
AMS's technology and products currently serve the majority of the key global
markets 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 Exchange DSCBGGGUS
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