NEW YORK, December 22 /PRNewswire-FirstCall/ -- Biocoral, Inc. (OTCBB: BCRA) announced today that recently the Canadian Intellectual Property Office (an agency of Industry Canada) approved and granted a company patent called Bone Prosthesis material containing Calcium Carbonate Particles dispersed in a Bioresorbable Polymer Matrix.
The Canadian Intellectual Property Office, after more than eleven years of examining of the company's application, granted the patent innovation to Bio Holdings International Ltd., the Company's wholly owned subsidiary, under the patent number 2093269. The Patent will expire in 2013.
Biocoral(R), the Company's primary product, a bone graft substitute derived from natural coral containing calcium carbonate in crystalline form (Aragonite and /or Calcite), is used by surgeons and practitioners because of its biocompatibility, resorbability, osteoconduction and safety. These qualities will be enhanced by the technique covered by the Canadian patent in that as a result of the combination of large amounts of particulate calcium carbonate with a polymer matrix, makes it, possible to obtain a composite material which has the same advantages as the calcium carbonate-based materials without having their drawbacks, such as the difficulty of producing items of any particular shape.
The subject of the present invention is use of calcium carbonate particles dispersed with a polymer matrix in the preparation of a bone prosthesis item, the said particles being smaller than 1 mm in size and representing from 40 to 70% of the total weight, and the said polymer being bioresorbable polymer. The polymers which can be used according to the invention are, of course, biocompatible polymers, that is to say polymers which can be implanted in humans without causing unacceptable side effects.
Among the polymers which can be used, are including the polymers in which the units are derived from hydroxyxarboxylic acids. These polymers can be homopolymers or copolymers but preferably the amorphous polymers can be used. Among the polymers which can be used in the production of the material according to the invention, poly(lactic acids) originating from the polymerisation of mixtures of L- and D-lactides in proportions such that the said poly(lactic acids) are amorphous will be mentioned in particular. Among the copolymers which can be used, special mention may be made of copolymers consisting of units derived from lactic and glycolic acids and for example a copolymers containing up to 50%, expressed in terms of units, of units derived from glycolic acid.
Nasser Nassiri, the Chairman and Chief Executive Officer of Biocoral, Inc. commented that, "This patent application was filed in Canada in 1993 and was in examination for approximately eleven years before being granted. The grant of this Patent will protect the Company's technology and its primary product in new applications in Canada where the company is looking to develop its product."
Nasser Nassiri further commented that, "the Company, through its subsidiaries, has developed an additional twelve titles of patents for various applications and uses of its products, such as autologous glue, the combination of Biocoral(R) with growth factor and a method of treating a disease associated with demineralization or mineralization bone defects ("osteoporosis remediation"), among others. With these twelve titles of patent applications in various countries in Europe, Canada, the United States, Japan, Australia, and Switzerland, the Company now owns more than 185 patent applications around the world and approximately 140 of which have thus far been granted by the official government patent offices of various countries, including most European Community countries, Canada, Australia, Japan and in the United States by the US Department of Commerce Patent and Trademark Office.
Biocoral, Inc., a Delaware corporation, is an international biomaterials "tissue-engineering" company specializing in the research and development of proprietary health care patented high technology and biomaterials. Through its subsidiaries, the Company researches, develops, manufactures and commercializes bone graft substitutes and other high tech patented biomaterials in a number of countries outside the United States.
The information contained in this press release, including any "forward looking" statements within the meaning of section 27A of the securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company.