|By Marketwired .||
|January 14, 2014 07:30 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/14/14 -- Interface Biologics Inc. (IBI), and Q3 Medical Devices Limited are pleased to announce the signing of a joint development and commercialization agreement to combine IBI's Kinesyx bioactive oligomers with the balloon technology of Q3 Medical Devices wholly owned subsidiary, Qualimed Innovative Medizinprodukte GmbH, to create a next generation drug coated balloon for both coronary and peripheral applications.
IBI is a privately held commercial stage developer of transformative biomedical-polymer products that enhance the safety and effectiveness of medical devices. Q3 is an Irish based holding company with multiple operations in Germany focused on the development, manufacturing and distribution of minimally invasive devices for the treatment of patients with cardiology, peripheral vascular and non-vascular diseases.
"The combination of the Qualimed PTA/PTCA balloons with IBI's Kinesyx coating technology provides a compelling delivery platform for drugs that reduce restenosis in both coronary and peripheral applications," said Tom Reeves, President & CEO of Interface Biologics. "Coating uniformity and flexibility/pliability, low loss in transit and minimal particulate development as well as effective drug loading and tissue transfer combine to provide a strong competitive offering."
"This is a significant milestone for IBI," continued Reeves, "as this is both the first co-branded product agreement that we have signed as well as the first commercial agreement for a combination drug delivery device using our coating technology."
"We've been working with IBI over the last two years in developing the initial prototypes of a new drug coated balloon (DCB)," commented Eric Mangiardi, CEO of Q3 Medical. "Our customers have been asking for a DCB to complement our existing product portfolio and we believe that the Qualimed/IBI DCB will provide a compelling option. We look forward to working with IBI to get this product on the market and will leverage our experience in the CE Mark process to drive this forward."
About Interface Biologics Inc.
Interface Biologics (@InterfaceBiolog) is an early commercial stage privately held company that develops transformative biomedical polymer technology to improve the safety and effectiveness of medical devices. IBI's primary technology focus areas are anti-thrombogenic devices that reduce thrombosis and programmable combination drug delivery devices. For more information about Interface Biologics, please visit www.interfacebiologics.com.
About Q3 Medical Devices Limited
Q3 Medical Devices Limited is an Irish based holding company with multiple operations in Germany and strong partnerships throughout Asia through its growing investor base including China Pioneer Pharma Holdings Limited listed on the Hong Kong Exchange (1345). The holding and its companies are focused on the development, manufacturing, and distribution of minimally invasive devices for the treatment of patients with cardiology, peripheral vascular and non-vascular diseases.
Q3 Medical Devices Limited was formed by a global group of entrepreneurs, manufactures, distributors, industry doctors, and investors focused on the development and acquisition of medical device businesses with annual revenues between 1 -10 Million. The acquisitions are targeted in areas that expand the groups manufacturing base and capabilities, growth of its distribution channels, and accelerating its products offering focused on the minimally invasive treatment of patients with cardiology, peripheral vascular and non-vascular diseases.
Qualimed, a wholly owned subsidiary of Q3 Medical, was founded in 1997 in Winsen, Germany near Hamburg, where it develops, manufactures, and sells implantable medical devices in the Cardiology, Peripheral Vascular, and Non Vascular areas. The innovations are focused in the areas of Biodegradable Products, Drug Device Combination Technologies, Catheter, and Mechanical implant areas. Originally founded as an OEM, the company's products are now sold in over 50 countries worldwide through its OEM, Private Label, and Own Brand Networks. The company and its development partners have obtained CE and FDA approvals for more than 70 different products including 3 different drug eluting stents.
Forward Looking Statements
This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Group's products and services), and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. Among the important factors that could cause the Group's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to QualiMed's funding requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.