Published on October 27, 2009 at 3:43 AM
Covalon Technologies Ltd. (TSX VENTURE:COV), an advanced medical products company, announced that they have entered into a development agreement with CareFusion Corporation, the new specialty products company recently spun off by Cardinal Health.
The Development agreement provides that Covalon will be paid to use its technology platform and development expertise to develop and design a process that meets CareFusion's specifications.
William Jackson, Covalon Chief Business Officer, Chief Financial Officer and Co-Founder stated, "This an exciting project for Covalon because we are utilizing our patented technology platform to architect a completely new and exciting application for CareFusion. Approximately $25 million has been spent to develop Covalon's medical technology platforms. This agreement is an example of how Covalon offers its advanced medical technologies and application expertise to its customers at a fraction of the cost of what it would take for them to build it from scratch."
Dr. Frank DiCosmo, Covalon President, CEO and Co-Founder stated, "Covalon offers medical companies exactly what they need – a unique and effective medical coating technology, experienced application scientists and advanced technology transfer – in a cost-effective manner and with a significantly accelerated time to market."
http://www.covalon.com/
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Tags: Drug Delivery