Biomaterials leader Polymer Technology Group (PTG) in-licenses
bioresorbable polymers from Bezwada Biomedical
Commercial applications to be presented at 8th World Biomaterials
Congress during a “Corporate Lunch Forum”
on Friday, May 30th
BERKELEY, Calif. (Business Wire EON/PRWEB ) May 28, 2008 --
The
Polymer Technology Group, Inc. (www.polymertech.com),
a
preeminent biomaterials company, announced today that it has
in-licensed a family of bioresorbable polymers from Hillsborough,
N.J.-based Bezwada Biomedical L.L.C., whose founder and
president, Rao Bezwada, Ph.D., will also serve as a consultant to
PTG. Terms of the agreement were not disclosed.
Polymers specifically designed to degrade under physiological conditions
are often referred to as “absorbable”,
“biodegradable” or “bioresorbable”
polymers. With this in-licensing event, PTG will now be able to offer a
wider range of new and generic bioresorbable polymers to the medtech
industry for use in medical devices, drug delivery and tissue
engineering.
“We are very happy to be working with Dr.
Bezwada, who has more than 25 years of research experience in the
medical device industry, including 20 years of service at Ethicon
(Johnson & Johnson) prior to establishing Bezwada Biomedical in 2003,”
said Bob
Ward, CEO of PTG. “He has been a prolific
inventor (72 issued U.S. patents), has published extensively and
presented frequently at both national and international meetings,
including the American Chemical Society and the Society for Biomaterials,”
added Ward.
Ward and Dr. Bezwada will make a joint presentation—“A
vertically integrated approach for tailoring bioresorbable polymers:
from monomers to implantable devices”—at
a “Corporate Lunch Forum”
on Friday, May 30th, during the upcoming 8th World Biomaterials Congress
(May 28-June 1) in Amsterdam.
ABOUT BEZWADA BIOMEDICAL
Bezwada Biomedical LLC is an innovation-based and technology-driven
company focused on developing a range of novel, biocompatible and
absorbable materials for use in next-generation medical devices and
therapeutic applications. Since its inception in 2003, the company’s
mission has been to use the transforming power of chemistry to innovate
and develop a range of biodegradable polymers that represent platform
technologies capable of generating products to improve the health and
quality of patients’ lives.
ABOUT PTG
Headquartered in Berkeley, Calif., The Polymer Technology Group, Inc.
(PTG) specializes in the research, development, design, scale-up, and
manufacture of new polymers, medical devices, and components. PTG's
recently expanded operations to 70,000-square-feet comprise the
equipment and expertise to support production-scale polymer synthesis
through contract medical device manufacturing. On April 28th the company
announced it has agreed to be acquired by DSM, the global Life Sciences
and Materials Sciences company headquartered in the Netherlands. The
union with PTG will enable DSM Biomedical to expand its unique portfolio
of materials-based technologies which will benefit customers in the
medical device and pharmaceutical industries. Closing of the acquisition
is expected to take place by the end of May, 2008.
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