STOCKHOLM, Dec. 30, 2020 /PRNewswire/ -- Bactiguard has received an initial order for coating concentrate from Well Lead Medical (Well Lead) in China. The order will be delivered promptly and generate license revenues in the fourth quarter 2020 of approximately SEK 9 million.
In parallel with the marketing and sales of Bactiguard's BIP Foley urinary catheters in the Chinese market, Well Lead has made progress in the development of its own portfolio of medical devices, with Bactiguard's coating for infection prevention. Well Lead has now placed an initial order for Bactiguard coating concentrate that will be used in product development and for manufacturing of products, pending regulatory product approval.
"I am pleased that we are making progress in our collaboration with Well Lead, despite the ongoing pandemic. Preparations for local production have now entered a phase where Well Lead needs Bactiguard's coating concentrate. This also means that we, over time, are developing the partnership to include more products for infection prevention," says Cecilia Edström, CEO.
In June 2018, Bactiguard signed a combined distribution and license agreement with Well Lead, China's leading manufacturer of consumable medical devices. Initially, Well Lead has the exclusive right to market and sell Bactiguard's urinary catheters (BIP Foley) in China. At the same time, the process of obtaining regulatory product approval for locally produced central venous catheters and endotracheal tubes, with Bactiguard's technology for infection prevention was initiated.
This information is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below 2020-12-30, at 13.00.
For further information, please contact:
Cecilia Edström, CEO, phone: +46 8 440 58 80
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201230 New order from China