Nov 9 2006
Memry Corporation. announced today that it has secured the exclusive worldwide license to an innovative biocompatible coating technology with potential drug-eluting capabilities for use on Nitinol stents.
The technology was developed with Biomer Technology Ltd, a privately owned company specializing in the development and manufacturing of state-of-the-art polymers and coatings for medical devices. Under terms of the license, Memry Corporation will sponsor a pre-clinical evaluation using Biomer Technology’s passive coatings on a self-expanding Nitinol stent platform.
Memry CEO Bob Belcher, said, “This license will allow us to strengthen our position as a leading Nitinol stent manufacturer by providing a coated platform for our stent customers. Following additional development work, we hope to be in a position to offer this technology to our customers worldwide. We do not anticipate any revenue impact from this program over the next year.”
Memry Vice President of Business Development Philippe Poncet said, “We spent a year testing Biomer Technology’s coatings under very challenging test protocols, some of them specific and unique to self-expanding Nitinol stents. Following our joint R&D and collaboration program, the upcoming preclinical evaluation is a logical step to demonstrate the basic durability and safety of the coatings in an animal model, leading to the expansion of Memry’s capabilities to supply both bare and alternatively coated products to our medical device and stent customers in the future. Currently, Nitinol stents are mainly used in the peripheral vasculature, and according to the American Heart Association, approximately 10 million Americans, many undiagnosed, are affected by peripheral arterial disease.”
Biomer Technology Managing Director Simon Dixon said, “This license agreement further strengthens our relationship with Memry Corporation and provides Biomer Technology with a strong commercial partner for the exploitation of this particular aspect of the technology. Biomer has recently completed preclinical studies for coronary applications using a coated stainless steel stent platform, and we are excited to be working with Memry to develop the next generation of coated Nitinol devices for the peripheral vasculature where clinical evidence suggests that there are still significant challenges to be met.”