Advanced Bio-Technologies (ABT) has got license to Sinclair Pharma's range of patented spray wound dressings and fast-drying transparent silicone scar-reduction gel.
Sinclair Pharma said that the products are already marketed under the brand name Kelo-Cote in four European countries.
Currently, Sinclair intends to introduce the products in Italy, Spain and France in early 2011 under the same brand name.
Further, the deal gives Sinclair an option to manufacture Kelo-Cote directly in the future and provides access to the underlying patented silicone technology to develop new products with possibilities of combining Kelo-Cote with Sinclair delivery technologies and woundcare ingredients.
Under the agreement ABT is entitled to get upfront consideration and downstream payments as well as royalties based on the sales performance.
Sinclair Pharma CEO Chris Spooner said that Kelo-Cote brand presents a great opportunity for Sinclair Pharma to leverage both its existing woundcare portfolio and its in-house technical expertise to develop line extensions.
ABT chairman and CEO Jeff Thompson said that the combination of ABT’s silicone technology and Sinclair’s commercial and product development capabilities has the potential to enhance shareholder value for both companies and benefit patients around the world through cutting edge existing and new products for scars and wounds.