Under the terms of the joint development agreement, Mast will have exclusive rights to develop specified products and negotiate commercialization terms for such products for a period of six months.
This is reportedly the first joint development and exclusive option to license entered into by Ceragenix for a medical device application of its CeraShield antimicrobial technology.
Steven Porter, chairman and CEO of Ceragenix, said: “We’re very pleased to announce our first joint development agreement involving our CeraShield antimicrobial coating related technologies for long term protection of in-dwelling medical devices with an innovative surgical medical device firm like Mast BioSurgery. It is our expectation that we will enter into several other similar agreements for different devices during the remainder of 2009.”