In connection with a decision made by DelSite’s board of directors, DelSite will exit the wound care business, including the manufacture of wound care products under the Carrington brand.
Under the terms of the agreement, trademarks and related patents for its wound care products will be transferred to Medline.
Carlton Turner, CEO of DelSite, said: “The sale of the wound care division allows DelSite to focus on the development and commercialization of its GelSite polymer drug and vaccine delivery technology, to keep the company on track to file an investigative new drug application for the H5N1 nasal powder vaccine by the end of August 2008, and to initiate dosing of patients with the avian flu powder vaccine in a Phase I trial during the fourth quarter of 2008.”