Wilmington, Massachusetts - AdvanSource Biomaterials Corp., a developer of polymer materials including polyurethanes for medical devices, has entered a multi-year agreement to supply its "specialised solution-based polymer" to an international medical device company, the company said 19 Aug.
"This is a significant step in our vertical integration strategy, which includes our commitment to developing solution-based polymers designed to meet the specific requirements of our customers," said Khristine Carroll, AdvanSource's vice president of sales and marketing. "We are very enthusiastic about the response we have received from the device industry and by the extension of partnership that an agreement such as this represents," she added.
"We believe this new development relationship is important in validating our business model; the key driver being our ability to leverage our biomaterials technology and capabilities in partnership with developers and manufacturers of medical devices," said AdvanSource president and ceo Michael Adams.
The company said that "presently, the solution-based polymer is being positioned for use across multiple product lines to be initiated over the next 3-5 years." AdvanSource did not reveal the identity of the medical device company. (RD)