A Calgary-based technology developer has just received the green light from the federal government for a new product designed to ease the suffering of millions of patients who suffer from painful chronic wounds.
Company officials say while it’s the first step in moving into the $1-billion dollar chronic wound market in North America, it also signals another success for an Alberta-grown technology which already is used across the continent for burn treatment.
The Westaim Corporation, which has its head offices in Calgary, has received clearance from both the U.S. Food and Drug Administration and Canada’s Health Protection branch for the silver-based dressing, which delivers a sustained seven-day release to help control infection arising from circulation-related ulcers, infected surgical wounds and blisters.
“Over four million individuals have chronic wounds in North America,” says Tony Johnston, senior vice-president for Westaim’s corporate affairs. “It’s an increasing problem with our aging population.”
More than 55,000 amputations are performed every year due to diabetic foot ulcers alone, he adds.
Using a nanocrystalline coating of pure silver for the bandages — a technology first developed at the company’s research facility in Fort Saskatchewan — the company’s Acticoat dressings have already proved effective for burn treatments and are now used in 120 major burn centres in North America.
But the new dressing doesn’t have to be changed as often, which is a bonus to outpatients who must travel to the hospital for the procedure. It can also be an effective weapon against antibiotic-resistant “superbugs.” Future applications include applying the thin silver antimicrobial coating onto catheters and implants to protect against infection and promote healing.
Westaim’s subsidiary, Westaim Biomedical Corporation of New Hampshire, plans to ink a worldwide distribution deal for the Acticoat 7 product within three to four months. The company will then likely spin off part of the biomedical division and start looking for new acquisitions.
Westaim’s technology investments aren’t limited to biomedical discoveries. As a technology “accelerator,” the focus of the five-year old company — with CEO Kevin Jenkins at the helm — is to launch high potential technologies into the marketplace and then look for exit strategies through IPOs or sales. The 650-employee company is also heavily invested in the flat-panel display screen iFire technology, and e-business management software.
“We feel we’re in three good areas right now, health care, software and electronics,” asserts Johnston.
With their latest product, it’s a future with a silver lining.
Web Watch:
www.westaim.com
