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CardioTech in supply, license deal

By David Reed, UT EditorWilmington, Massachusetts-CardioTech International, Inc. has granted Bard Access Systems, Inc. exclusive, worldwide rights to manufacture, market and sell central venous catheters (CVCs) based on CardioTech’s patented ChronoFlex biodurable polyurethane for a period of five years.CVCs are any centrally or peripherally placed catheters whose primary function is one other than dialysis, a 20 May statement from CardioTech explained. Under the agreement, BAS agrees to purchase ChronoFlex polyurethane for use in CVCs and pay CardioTech a minimum annual royalty. Further details of the agreement were not disclosed.CardioTech International, Inc. maintains operations in Wilmington, Massachusetts, Plymouth, Minnesota and Rancho Santa Margarita, California. The firm develops, produces and markets differentiated medical devices including items used in cardiopulmonary bypass (heart-lung), and OEM products for certain Fortune 100 companies. CardioTech believes it is the only company in the world developing a synthetic coronary artery bypass graft that addresses a potential annual market of $1500 million. Additionally, CardioTech has partnered with Implant Sciences and CorNova to develop a drug-eluting stent that addresses a potential market of $1000 million annually.”

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