WILMINGTON, Mass. (July 15, 2010)—Medical materials developer AdvanSource Biomaterials Corp. said it has entered into a multi-year supply agreement with a global medical device company.
The company said the agreement calls for supply of a specialized solution-based polymer designed to meet the key characteristics required to optimize device performance. Neither the type of device nor the name of medical device company were revealed.
AdvanSource develops and manufactures a range of polyurethane-based medical-grade polymers, including a solution-based thermoplastic polyurethane elastomer, Chronothane P, and ChronoSil, a thermoplastic silicone-polycarbonate-urethane, which it filed a patent for last year.
AdvanSource said the agreement includes a guaranteed minimum annual usage fee for the purchase of the products for an initial term of five years and with multi-year renewal options.