Seal Sands Chemicals Signs Extensive License Agreement With Biocompatibles International

Seal Sands Chemicals, a company within the Health and Specialty Products division of Vertellus Specialties Inc., has reached an agreement with Biocompatibles International, plc to license its biocompatible polymer technology based on Phosphorylcholine (PC) derivatives. The transaction includes specific patent rights, process technology, applications and trademarks associated with the PC Technology.

"This is a great opportunity for Seal Sands," said Neil McLoughlin, Vice President of the Health and Specialty Products division Europe. "We have been commercially producing these novel polymer materials at our Seal Sands Chemicals UK site for a number of years. This agreement allows us to further capitalize on our manufacturing know-how and expanded capacity in this specialized technology by gaining direct market control of these materials."

Seal Sands has produced PC Technology materials primarily for the eye care market, in which it is used in contact lenses to inhibit protein deposition and thereby reduce eye irritation and improve comfort.

"I'm delighted to be joining Vertellus and Seal Sands Chemicals," said Mike Driver, who will continue to be the Business Director under the newly formed Biomaterials business
of Seal Sands. "The Biomaterials business has a robust new opportunity pipeline, and we will look to expand and develop these opportunities by leveraging Vertellus' manufacturing and marketing strengths."

Mr. Driver added, "The PC Technology platform is a market leader in many of its medical application areas and is ideally positioned to expand into other growing health and personal care market segments benefiting from favorable trends. Vertellus' intention is to broaden the technology platform to include applications both within and outside the medical field."

SOURCE: Vertellus Specialties Inc.