Wilmington, Massachusetts -- AdvanSource Biomaterials Corp. which develops advanced polymer materials for medical devices, has signed a multi-year supply agreement with Access Scientific. San Diego, California-based Access is a healthcare company which develops vascular access devices that simplify and improve infusion therapy procedures.
The agreement follows Advancource's collaboration with Access Scientific in developing a specialised polymer to be used as an integral component of Access Scientific's midline catheter products, designed to reduce the number of "sticks" for intravenous fluid and drug administration a patient has to endure.
"We believe the materials developed for Access Scientific should aid in optimising their medical device design criteria. … We continue to aggressively market our technology and capabilities," said Michael Adams, president and ceo of AdvanSource, in a company statement.
Access Scientific produces the Wand/Powerwand line of catheters that make possible the proprietary Accelerated Seldinger Technique. This cuts the many risks both to patients and clinicians, associated with inserting IV lines.
AdvanSource Biomaterials has developed a special aromatic polycarbonate polyurethane to optimise catheter performance. Under the agreement, Access will have exclusive rights to ChronoFlex C for use in midline catheters.
ChronoFlex C, when combined with Access Scientific's catheters, is expected to give "the finest performance of any catheter in the history of vascular access," said Steve Bierman, MD, ceo of Access Scientific.
Results of a current study will be presented in on 23-25 May at the Infusion Nurses Society annual meeting, in Louisville, Kentucky.
This agreement is a multi-year, multi-million dollar opportunity for AdvanSource Biomaterials with revenues derived from product sales and royalties based, in part, on advancing sales of Access Scientific's catheters.