WILMINGTON, Mass.--(BUSINESS WIRE)--AdvanSource Biomaterials Corporation (OTCQB: ASNB), a leading developer of advanced polymer materials for a broad range of medical devices, today announced a strategic alliance with Medibrane, Ltd, a leading Israeli coating technology company. The Strategic Alliance provides for technology collaboration, development and commercialization of medical coatings using our material technologies in collaboration with Medibrane’s coating and surface modification technologies and enhancements.
Khristine Carroll, AdvanSource’s EVP, said, “We are pleased to launch the first phase of our strategic coating initiative with Medibrane, which has demonstrated its ability to fulfill unmet needs in the coatings industry and overcome clinical challenges. We believe this strategic alliance should leverage our technologies thereby providing us technologic and competitive advantages.”
Dr. Amir Kraitzer, CTO of Medibrane, said “We have been using AdvanSource polymers for encapsulation coatings and hydrophilic-based solutions over the last two years and have found their polymers to provide an excellent solution for frame-based devices. In addition, we are extremely pleased with their customization, support and market knowledge.”
Elad Einav, CEO of Medibrane, added, “Joining forces with AdvanSource enables both parties to offer customized solutions, thereby providing superior solutions to our clients.”
About AdvanSource Biomaterials Corporation
AdvanSource Biomaterials Corporation manufactures advanced polymer materials which provide critical characteristics in the design and development of medical devices. The Company’s biomaterials are used in devices that are designed for treating a broad range of anatomical sites and disease states. AdvanSource’s business model leverages its proprietary materials science technology and manufacturing expertise in order to expand product sales, royalties and license fees. More information about AdvanSource is available at: www.advbiomateials.com.
About Medibrane Ltd.
Medibrane Ltd. is a designer, developer and manufacturer of customized polymeric surgical implants, implantable device coatings, encapsulation coatings, and bio-absorbable implants - intended for a diverse range of MIS in such fields as neurology, cardiovascular, cardiology, and urology, as well as for gastroenterology, biliary and respiratory devices. More information about Medibrane is available at: www.medibrane.com.
