Medtech company Bactiguard has collaborated with Smartwise Sweden to develop advanced vascular injection catheters.
Under the joint development project, the partnership will work for advanced Bactiguard-coated vascular injection catheters.
The companies have also signed a license agreement, under which Smartwise will pay $2.5m for the exclusive and global right to the Bactiguard technology for this application.
The deal will also include the royalty payments based on the commercialization of products.
Bactiguard will advance the development of coating process for the micro catheters developed by Smartwise.
Smartwise will take the responsibility for the certification and registration process, as well as conducting clinical trials.
Bactiguard si said to expand its license business to include three different therapeutic areas, including Foley catheters, orthopaedic implants and transvascular injection catheters.
Bactiguard sales and new business SVP Cecilia Edström said: “We are very excited about the partnership with Smartwise, as it expands our technology to a completely new application area.
“Delivering drugs and other therapies to vital organs is a complicated and delicate form of intervention, where the anti-infective and tissue friendly properties of the Bactiguard coating will reduce risks and increase patient safety.”
Smartwise CEO Jonathan Clarke said: “The advanced injection technology we are developing has the potential to become a major breakthrough in delivering therapies to targeted and critical areas of the body, such as the heart and the brain.”