Wilmington, Massachusetts - AdvanSource Biomaterials Corp. is the new name for CardioTech International, Inc. after shareholders approved the change at the annual meeting 15 Oct 2008.
The company is a developer of advanced polymer materials for medical device design and development. "The AdvanSource name more accurately reflects our clear scientific and technological expertise in materials science applications for a very broad range of disease states and anatomical sites," said AdvanSource president and ceo Michael Adams, in the company's announcement.
Adams added that AdvanSource's business model is to exploit its "unique strength in polymer science in order to grow and diversify our product offerings within existing customers as well as to expand our reach in the broader medical device community."
The company is pleased with the "growing number of inquiries for our polymers from both large and small companies whose businesses span a multitude of medical device sectors," he added.
AdvanSource Biomaterials makes advanced polymer materials, including polyurethanes, which provide critical characteristics in the design and development of medical devices. These biomaterials are used in devices for treating a broad range of anatomical sites and disease states.
The company is currently conducting a clinical trial for regulatory approval at two sites in Europe for its CardioPass synthetic coronary bypass graft.