Aug 26 2004
Memry Corporation today announced that it will finance a $200,000 joint development program and has made a $400,000 initial investment in Biomer Technology Ltd, a privately owned company specializing in the development and manufacture of state-of-the-art polymers and biocompatible coatings for stents and other medical devices.
Memry President and CEO James Binch said, "We welcome this new initiative with the experienced Biomer Technology scientists whose skills in biocompatible coatings complement our own expertise in product development for next-generation coated Nitinol medical devices and surgical implants. Biomer Technology's coatings are currently in pre-clinical evaluation on other material substrates."
Memry Chairman Dr. Edwin Snape said, "This relationship with Biomer represents a further step in Memry's on-going commitment to provide proprietary, enhanced performance products to its medical device customers worldwide."
Memry Vice President of Business Development Philippe Poncet said, "This is a major milestone in Memry's development strategy. We are excited by the opportunity to help create products with enhanced surface characteristics for our stent customers. These coatings lend themselves to drug loading and elution, enabling us to develop and supply next-generation drug-loadable Nitinol stent components. We see a significant opportunity for these devices in the treatment of peripheral vascular disease."
Commenting on the announcement, Biomer Technology's Managing Director Simon Dixon said, "Memry Corporation is a world leader in shape memory technology and we are delighted to be working together to create the next generation of Nitinol medical devices. We also welcome Memry's decision to make an investment as further validation of our technology and look forward to developing a long-term and successful relationship."
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