Bactiguard's licensing partner Smartwise enters collaboration with AstraZeneca
Bactiguard's licensing partner Smartwise Sweden AB (Smartwise) has signed a strategic collaboration agreement with AstraZeneca regarding, among other things, the development of advanced vascular injection catheters with Bactiguard coating for new, innovative treatment methods of cardiovascular disease and cancer.
”The collaboration agreement with AstraZeneca is a major breakthrough for Smartwise, as a leading global pharmaceutical company is investing in the development of their innovative treatment methods for some of our most common, serious diseases. For Bactiguard, this agreement may generate new license revenue in the longer term, but above all, it demonstrates the quality and potential of our technology and opens the door to new licensing opportunities”, says Cecilia Edström, CFO.
In February 2017, Bactiguard and Smartwise established a joint development project for advanced Bactiguard-coated vascular injection catheters. At the same time, a licensing agreement was signed that generated USD 2.5 million in license revenue for Bactiguard, for the exclusive and global right to the Bactiguard technology in this application area. The receivable linked to this fee was paid in full in the second quarter of 2018, when a final payment of USD 1.25 million was made.
The agreement between Smartwise and AstraZeneca initially does not generate any new license revenues for Bactiguard, but when the catheters reach the market it will generate royalties, which is estimated to be about two to three years into the future.
Through the license agreement with Smartwise and their collaboration agreement with AstraZeneca, Bactiguard takes another important step towards entering an interesting therapeutic area for our technology, whereby drugs and other interventional therapies can be targeted and delivered to specific organs, such as the heart, the abdominal organs and the brain. The full potential of this treatment method is yet to be explored, but pharmaceutical companies, researchers and clinicians see a great benefit in being able to deliver high dose, locally targeted therapies to damaged tissue, following for example stroke and heart attack, or direct into tumors for high dose chemotherapy.
More information about the agreement with AstraZeneca can be found here: https://goo.gl/V84kRu
For further information, please contact:
Cecilia Edström, CFO, cell phone: +46 72 226 23 28
About Bactiguard
Bactiguard is a Swedish medical device company with a mission to save lives. To achieve this mission we develop and supply infection protection solutions which reduce the risk of healthcare associated infections and the use of antibiotics. This way, we save significant costs for healthcare and the society at large. The Bactiguard technology prevents bacterial adhesion and biofilm formation on medical devices. Bactiguard offers the technology through licence agreements and our BIP (Bactiguard Infection Protection) portfolio of products. Through our licence partner CR Bard, urinary catheters with Bactiguard’s coating are market leading in the USA and Japan. Bactiguard’s own product portfolio of urinary catheters, endotracheal tubes and central venous catheters prevent some of the most common infections, which appear in the urinary tract, the blood stream and the respiratory tract.
Bactiguard is in a strong expansion phase in the European markets, China, India and the Middle East as well by establishing license agreements in new therapeutic areas. The company has about 60 employees around the world. Its headquarters and one of two production facilities are located in Stockholm, the other one in Malaysia. Bactiguard is listed on Nasdaq Stockholm.
Read more about how Bactiguard saves lives on www.bactiguard.com