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news.Alltracel Pharmaceuticals has said that its Nanopeutics subsidiary has signed a collaborative technology development agreement with ConvaTec, a world-leading manufacturer of ostomy and wound care products.
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As part of the development work under the previous agreement, Alltracel’s healthcare services division was also contracted by ConvaTec to perform laboratory testing and analysis work. The extension of the collaboration between Alltracel and ConvaTec will also include similar laboratory testing and analysis work by Alltracel Healthcare Services.
ConvaTec has been working with Alltracel since November 2006, when the initial primary concept development agreement was announced with a professional wound care partner. As per the original agreement, the new technology agreement will be funded by ConvaTec and its successful conclusion may lead to an exclusive royalty bearing license and supply agreement between both companies.
Tony Richardson, Alltracel’s CEO, said: “We are very pleased to announce our continuing collaboration with ConvaTec. Our new agreement in the area of professional wound care product development further supports the strength of Alltracel’s development work carried out to date for ConvaTec and we look forward to progressing the commercialisation of our professional wound care products in 2008 and beyond.”