IRVINGTON, N.Y., Aug. 31, 2011 /PRNewswire/ -- ORTHOCON, Inc., a privately-held therapeutic device company, today announced the signing of an exclusive, worldwide license agreement with Bezwada Biomedical to develop and commercialize Bezwada's technology for bone applications.
Bezwada Biomedical is an innovation-driven company with proprietary technology platforms comprised of bioabsorbable and biocompatible polyurethanes and polyamides derived from hydrolyzable isocyanates. This technology can be utilized to create absorbable surgical devices for a variety of applications including structural support, fixation, and drug delivery, with the potential to address significant limitations of existing therapeutic modalities.
John J. Pacifico, President and Chief Executive Officer of ORTHOCON, commented, "This strategic partnership is another important milestone for ORTHOCON as it significantly enhances the company's technological capabilities and product pipeline." He added, "Bezwada Biomedical has invented new technology that clearly improves upon existing marketed products, and we are very pleased to be working with Dr. Bezwada and his team to develop and commercialize additional devices that address the needs of our surgeon customers."
"We are delighted to partner with ORTHOCON to develop and commercialize an important part of our technology for bone applications," stated Rao Bezwada, Ph.D., President and Chief Executive Officer of Bezwada Biomedical. "Given ORTHOCON's financial, technical, and commercial capabilities, we believe this is the right step to move our technology forward and we are thrilled to be working with the ORTHOCON team."
Richard Kronenthal, Ph.D., ORTHOCON's Founder, Chief Scientific Officer, and principal technology inventor, previously worked with Dr. Bezwada to develop several market-leading products. Commenting on this strategic partnership, Dr. Kronenthal stated, "Having known and worked with Dr. Bezwada f
|SOURCE ORTHOCON, Inc.|
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