Nephros, Inc. (OTC Bulletin Board: NEPH), a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification, today reported that is has entered into a development agreement with STERIS Corporation ( STE).
Under the terms of the agreement, Nephros and STERIS will jointly develop filtration-based products for medical device applications. Nephros received an initial payment upon entering into the agreement and is eligible to receive additional payments upon successful completion of product development milestones.
"Nephros is investigating a range of commercial, industrial and retail opportunities for its DSU technology," said Ernest Elgin, President and CEO of Nephros. "We are pleased to be working with STERIS to leverage our expertise in additional applications. STERIS is a leader in the field of medical device sterilization, and we look forward to developing new products together to enhance patient safety."
In 2009, Nephros received 510(k) marketing approval from the FDA for the Dual Stage Ultrafilter (DSU) to be used to filter biological contaminants from water and bicarbonate concentrate used in hemodialysis procedures. In August 2009, Nephros reported that it was awarded a new research contract from the U.S. Office of Naval Research ("ONR") for development of a portable dual-stage purifying filter.
Feeling lonely? It may affect how your brain reacts to food, new research suggests