NEWTON, Mass., Aug. 18, 2015 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL) today announced the conversion of Xcede Technologies, Inc.'s provisional U.S. Patent application claiming novel tissue patch systems, methods and compositions.
Xcede Technologies, a subsidiary of Dynasil Biomedical Corp (DBM), is based in Rochester, MN and began operations in October 2013 following a technology transfer from DBM.
Xcede is committed to the development and manufacturing of innovative hemostatic and sealant products for surgical application. Xcede's first product, currently under development, is a resorbable hemostatic patch to be used when conventional techniques are inadequate or impractical during general or cardiovascular surgery.
The conversion of the provisional patent describes the combination of chemistry, coating and drying process that are utilized in coating the resorbable Xcede Patch fibrin backing. The method described uses a series of steps in which the coating is applied to the substrate which in the end provides a hemostatic patch that has high tensile strength in combination with high adhesive properties and maintained elasticity. The coated product described within this patent has the ability to seal a wide range of surgical bleeding complications, but the high strength characteristics provide the exciting possibility of sealing high pressure bleeding that currently has not been addressed in the market place.
"We believe Xcede continues to represent a hidden gem in the assets of Dynasil. We are encouraged by Xcede's recent technology developments and the potential to revolutionize the multi-billion dollar global fibrin sealants and hemostasis markets," said Peter Sulick, Chairman and CEO of Dynasil.
About Dynasil
Dynasil Corporation of America (NASDAQ: DYSL) develops and manufactures optical detection and analysis technology and components for the homeland security, medical and industrial markets. Combining world-class expertise in research and materials science with extensive experience in manufacturing and product development, Dynasil is commercializing products, including dual-mode radiation detection solutions for Homeland Security and commercial applications and sensors for non-destructive testing. Dynasil has an impressive and growing portfolio of issued and pending U.S. patents. The Company is based in Watertown, Massachusetts, with additional operations in Mass., Minn., N.Y., N.J. and the United Kingdom. More information about the Company is available at www.dynasil.com.
Safe Harbor
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 the Company's 2014 Annual Report on Form 10 K, as filed on December 16, 2014 and from time to time in the Company's other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Patty Kehe
Corporate Secretary
Dynasil Corporation of America
Phone: (617) 668-6855
[email protected]
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SOURCE Dynasil Corporation of America
