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AdvanSource Biomaterials Enters Into Multi-year Development Agreement

AdvanSource Biomaterials Corporation (AdvanSource), a manufacture of advanced polymer materials for medical device companies, has signed a multi-year development agreement with a international medical device company. The company said the agreement calls for the development of a specialized solution-based polymer designed to meet the key characteristics required to optimize device performance.

Upon successful development of the specified polymer the companies will work together to finalize execution of a multi-year supply agreement which includes an annual usage fee per end-product incorporation and commercialization. Presently, the solution based polymer is being positioned for use across multiple product lines to be initiated over the next 3-5 years.