Rochester, MN, January 6, 2016 – Xcede Technologies, Inc. today announced that it has signed three collaboration agreements with Cook Biotech Inc. of West Lafayette, IN including a Development Agreement, a License Agreement and a Supply Agreement to complete development, seek regulatory clearance and produce Xcede’s resorbable hemostatic patch.
Xcede Technologies, a subsidiary of Dynasil Corporation of America (“DCA”), is based in Rochester, MN and Seattle, WA and began operations in October 2013 following a technology transfer from Dynasil Biomedical, a subsidiary of DCA.
Xcede is committed to the development and manufacturing of innovative hemostatic and sealant products to control severe bleeding in surgical applications. Xcede’s resorbable hemostatic patch is currently under development and the Company is anticipating starting clinical trials in early 2017.
“We are excited to announce this collaboration with Cook Biotech,” said Linda Zuckerman, Ph.D., President and CEO of Xcede Technologies., Inc. “We believe that Cook’s experience and depth in the marketplace will provide a solid foundation for bringing our hemostatic patch into clinical development and on to regulatory approval and commercial sales.”
Umesh Patel, Ph.D., Vice President & General Manager of Cook Biotech Inc., states, “Cook’s SIS matrix technology combined with Xcede’s adhesive technology provides an excellent foundation for Xcede’s first product and the basis for potential expansion to other products to be commercialized with Cook. We are excited to announce this collaboration with Xcede Technologies.”
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements regarding future events and our future results are based on current expectations, estimates, forecasts, and projections and the beliefs and assumptions of our management, including, without limitation, our expectations regarding results of operations, the commercialization of our technology, in particular the Xcede patch, the success of efforts to fund Xcede, positive outcomes of our pre-clinical and planned clinical trials, regulatory approvals and the strength of our intellectual property portfolio. These forward-looking statements may be identified by the use of words such as “plans”, “intends,” “may,” “could,” “expect,” “estimate,” “anticipate,” “continue” or similar terms, though not all forward-looking statements contain such words. The actual results of the future events described in such forward looking statements could differ materially from those stated in such forward looking statements due to a number of important factors. These factors that could cause actual results to differ from those anticipated or predicted include, without limitation, our ability to develop and commercialize the Xcede patch, including obtaining regulatory approvals, the size and growth of the potential markets for our products and our ability to serve those markets, the rate and degree of market acceptance of any of our products, general economic conditions, costs and availability of raw materials and management information systems, our ability to obtain and maintain intellectual property protection for our products, competition, the loss of key management and technical personnel, our ability to obtain timely payment of our invoices to governmental customers, litigation, the effect of governmental regulatory developments, the availability of financing sources, our ability to identify and execute on acquisition opportunities and integrate such acquisitions into our business, and seasonality, as well as the uncertainties set forth in Dynasil Corporation of America’s (NASDAQ: DYSL) Annual Report on Form 10 K, as filed on December 17, 2015 and from time to time in the Company’s other filings with the Securities and Exchange Commission. Dynasil Corporation of America disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Dynasil Corporation of America disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.