EDMONTON, Aug. 5 /PRNewswire/ - Exciton Technologies Inc. today announced that the Company has received approval from the United States Food and Drug Administration (FDA) to market exSALT(TM) SD7 Wound Dressing, a product incorporating Exciton's patented platform coating technology utilizing silver oxysalts as the active ingredient.
"This achievement represents a significant team effort and a strong belief in our product," stated Rod Precht, Exciton's President and Chief Executive Officer. "To date, our technologies have demonstrated superior attributes over other leading silver technologies, allowing us to offer effective products at a significantly lower cost. With the approval from the FDA, we can now finalize our commercialization efforts to launch the exSALT(TM) dressing in North America later this year. In addition to preparing for the launch of the exSALT(TM) dressing, the Company is currently in the process of negotiating licensing and distribution agreements with leading wound care companies to broaden our marketing network globally."
The global wound-care market was $14 billion in 2008 and is expected to exceed $17 billion by 2012. Although silver-based products currently comprise a relatively small portion of this market, it is rapidly growing by 25% annually and is expected to grow to $750 million by 2015 due to the natural therapeutic benefits of silver. According to the Centers for Disease Control and Prevention, hospital-acquired infections in the United States alone cost up to $30 billion a year. Exciton's silver-based products have the potential to capitalize an even larger market by:
Silver has powerful antimicrobial properties. In the proper chemical form, it is proven as a highly effective wound-care agent with important benefits for promoting healing and preventing infection. Exciton's exSALT(TM) antimicrobial technology uses a patented chemical deposition technique to form a coating of active species of silver on a wide range of materials. The exSALT(TM) SD7 Wound Dressing targets the advanced wound care market in preventing infection during the treatment of burn and chronic wounds such as diabetic foot ulcers and bed sores. By adjusting the dose of silver and expanding the number of product configurations, Exciton can target a greater portion of the overall market.
Exciton Technologies Inc. is an Alberta advanced materials research and development company focused on the creation of technologies for preventing and controlling infection. Currently our valuable portfolio of patentable platform technologies is based on the antimicrobial properties of silver. The Company's technologies offer next-generation, less expensive and environmentally friendly products, enabling the company to participate in many industries, including the wound care and disinfectant markets.
This press release may contain forward-looking statements. Forward looking statements, including the Company's belief as to the potential of its products, the Company's expectations regarding the issuance of additional patents and the Company's ability to protect its intellectual property, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the ability to economically manufacture its products, the potential of its products, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize its products, the ability of the Company to defend its patents from infringement by third parties, and the risk that the Company's patents may be subsequently shown to be invalid or infringe the patents of others. Investors should consult the Company's quarterly and annual filings with the Canadian commissions for additional information on risks and uncertainties relating to the forward- looking statements. Investors are cautioned against placing undue reliance on forward-looking statements.
SOURCE Exciton Technolgies Inc.
CONTACT: Rod Precht, President CEO, Exciton Technologies Inc., Phone:
(780) 722-1666, E-mail: rprecht@exitontech.com; Stephanie Gillis-Paulgaard,
Director, Investor Relations, Exciton Technologies Inc., Phone: (780)
964-6410, E-mail: spaulgaard@excitontech.com
