TAGS: Smart Coatings
Asep Medical Holdings announces that, as of July 21, 2023, it has completed the final milestone in its acquisition of SafeCoat Medical (SafeCoat) and entered into an exclusive worldwide license agreement with the University of British Columbia (UBC), through its subsidiary SafeCoat, for the use, development and commercialization of a medical device coating technology.
Device-related infections are responsible for a quarter of all healthcare-associated infections and are difficult to treat with conventional antibiotics due to the adherence and growth of bacterial biofilms on the surface of the device.
Coating Technology with Antimicrobial & Anti-fouling Effect
According to the Center for Disease Control and Prevention (CDC), approximately 90% of serious infections caused by catheters are associated with central venous catheters (CVCs). Not only are CVC infections serious for the patient, but they are also costly for hospitals as the cost per infection is estimated to range from USD $34,508 to $56,000.
It represents an annual cost for caring for these patients to be approximately USD $296 million — $2.3 billion in the US alone. The technology encompasses two critical aspects to prevent device-related infections, which cause an additional cost of $57,0002 per patient and require replacement of the infected device.
The coating includes an antimicrobial peptide conjugated to the surface of the device to kill bacteria and anti-fouling self-assembling polymers that prevent the dead bacteria from binding to the device surface and masking the killing effect. The coating technology can be applied to various surfaces, including glass, plastic and titanium, on surgical implants, catheters, pacemakers, stents, artificial limbs and organs and contact lenses.
According to Research and Markets Medical Device Coatings - Global Markets report, the estimated value of medical device coatings in 2022 was USD $5.8 billion and is estimated to grow to USD $9.7 billion by 2027, representing a compound annual growth rate (CAGR) of 10.9%.
The report also provides compelling reasons for the market’s growth:
- An aging population is driving an increased demand for medical devices
- Advancements in technology have led to the development of new medical devices that require coatings
- The rising incidence of chronic diseases, such as heart disease and diabetes, is driving demand for medical devices that can be used for long-term treatment
- Along with scientific and technological advances, the FDA and other regulatory bodies have developed strict requirements to increase patient safety by improving the safety and performance of medical devices, which has led to an increased demand for coatings that can meet those requirements
- Medical device coatings can be cost-effective in the long run by prolonging the life of the device or by reducing the need for frequent replacement
Tackling Maintenance of Sterile Surfaces on Medical Devices & Implants
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We are excited to take this promising new technology forward through SafeCoat and the exclusive worldwide license from UBC. We anticipate that this transaction will create significant new market opportunities as we tackle the problem of maintaining sterile surfaces on medical devices and implants,” said Tim Murphy, Asep’s chief operating officer.
Pursuant to the agreement, Asep will hold 88% of the issued and outstanding shares of SafeCoat. UBC and the non-waiving inventors of the technology will collectively own the remaining 12% of the issued and outstanding shares of SafeCoat in consideration for the exclusive license grant.
In consideration for the granting of the license, SafeCoat will pay a royalty to UBC on the revenue generated from the commercialization of the technology products by SafeCoat at a rate of 3.75% and at staged higher rates on sub-licenses as particularly set out in the agreement.
Source: Asep Medical Holdings