Covalon Technology Limited (COV)

[TheMonolith]

HUGE news. This may not move the stock now, but have to think this product is going to be huge.

COVALON ANNOUNCES MAJOR MILESTONE: FDA CLEARANCE FOR MEDICLEAR™ PREOP
Covalon’s first medical product that can be sold over-the-counter at pharmacies without the need of a prescription
Covalon's first product cleared to access the multi-billion dollar pre-surgical skin antisepsis market
Provides continuous antimicrobial activity to reduce the risk of bacterial contamination of a patient’s skin prior to surgery
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Sep. 21, 2017-- Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, announced today it has received United States Food and Drug Administration (“FDA”) clearance to legally market and sell MediClear™ PreOp in the US to hospitals, clinics and directly to patients, without the need for a prescription.

MediClear PreOp is a breathable, transparent, self-adhesive, silicone barrier film-drape that smoothly conforms to the contours of a patient's skin at the planned incision or insertion site to protect the patient from exposure to bacteria, yeast and viruses. MediClear PreOp’s application is so simple, it can be applied by patients themselves or by clinicians at a consultation before their surgery. MediClear PreOp is then removed immediately prior to surgery by a clinician in the operating room under sterile conditions.

"MediClear PreOp is Covalon's first product to be cleared that enables us to enter the multi-billion dollar pre-surgical skin antisepsis market," said Brian Pedlar, Covalon's Chief Executive Officer. "With an over-the-counter ("OTC") designation by the FDA, Covalon can now provide patients easy access to a world-class infection prevention product to protect themselves from exposure to bacteria, viruses and fungi before a surgery."

The silicone adhesive in MediClear Pre-Op contains two antimicrobials – chlorhexidine and silver. The chlorhexidine and silver contained in the adhesive provides continuous antimicrobial activity while a polyurethane barrier film acts as a protective barrier to isolate a procedural site from microbial and other contamination. MediClear PreOp's silicone adhesive provides a rapid bactericidal and fungicidal effect against a broad-spectrum of microorganisms, averaging a 99.9% reduction at 10 minutes and a 99.99% reduction at 30 minutes, and prevents their re-growth for up to 7 days during wear.

"In an effort to reduce surgical site infections, hospitals in the United States spend billions of dollars every year on products to antiseptically clean and prep patients’ skin before surgery and a further $3.3 billion a year treating surgical site infections that current products and practices couldn't prevent," said Pedlar. "We see great promise with MediClear PreOp to help in reducing the instances of surgical site infections by protecting patients all the way into the operating room. There is no other OTC product on the market that provides the dual-antimicrobial and physical protection of MediClear PreOp."

MediClear™ PreOp provides an effective physical barrier against external contamination including fluids, bacteria, and yeast. In vitro testing demonstrates that the chlorhexidine and silver incorporated within the silicone adhesive provide a rapid bactericidal and fungicidal effect against microorganisms including Staphylococcus aureus (MRSA), Staphylococcus epidermidis, Enterococcus faecalis (VRE), Klebsiella pneumoniae, Pseudomonas aeruginosa, Enterobacter cloacae, Candida albicans, and Candida tropicalis, and prevents their re-growth for up to 7 days while wearing MediClear PreOp.

About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.



View source version on businesswire.com: http://www.businesswire.com/news/home/20170921005329/en/

Source: Covalon Technologies Ltd.

Covalon Technologies Ltd.
Brian Pedlar, 905-568-8400 x 233
Toll free: 1-877-711-6055
CEO
[e-mail]
Web site: www.covalon.com
Twitter: @covalon