The new development agreement will be on percutaneous urinary catheters. Covalon and its partner have agreed upon a series of development milestones for which Covalon will be compensated. The milestones are over four months. Covalon will provide ongoing coating services to its partner at the completion of the development program.
Due to confidentiality and market considerations no details on the product and the partner will be disclosed until the product is launched. The development agreement is to begin immediately and Covalon has received a purchase order for the first milestone.
Covalon claims that its antimicrobial and low-thrombogenic proprietary coating can be applied to a wide variety of in-dwelling, blood contacting devices for reducing the incidence of hospital acquired infection as well as reducing thrombogenicity.