New Startup AeonClad Biomedical Applies Patented Coatings Technology AeonCoat to the Drug Delivery and Medical Devices Markets
AUSTIN, Texas--(BUSINESS WIRE)--Jan 19, 2009 - Specialty coatings company, AeonClad Coatings LLC, has announced the launch of a newly formed subsidiary, AeonClad Biomedical LLC. The new company will focus on biomedical applications utilizing the AeonCoatTM Technology. AeonCoat is a dry coating technology that offers a single-step, solvent-free process producing conformal films. The technology enables custom tailored coatings allowing for improved dissolution of poorly water soluble drugs, as well as modified or sustained release. Coatings can also display functional groups used for secondary covalent coupling of biological materials or for targeted drug delivery.
Key Markets and Business Development
By concentrating on drug delivery and medical devices, AeonClad Biomedical is positioned to meet key market needs. The nanotechnology-based drug delivery market is expected to garner $700-$800 billion revenues by 20151. Expectations are that the market will be driven by the expanding horizon of therapeutic applications. Venture capital investments in nanotechnology drug delivery companies have been increasing and have provided further positive spin to the market growth.
Medical device coatings is the most rapidly expanding sector of the $213-billion global medical device market. These coatings increase the functionality, longevity and cost-effectiveness of medical devices. Global sales generated by coatings and surface-treatment processes used on medical devices is expected to grow significantly. Predictions are that the market will reach more than $5.31 billion by 2010, an average annual growth rate of 12.4%; and that the medical device coatings sector will grow to $7.5 billion by 20142.
AeonCoat Technology
Drug Delivery Applications
AeonCoat Technology will be used to coat and encapsulate drugs or active pharmaceutical ingredients (API's). The AeonCoat process yields many advantages in drug delivery due to its ability to individually coat particles on both the micro and nano scales. AeonClad Biomedical strives to overcome technical challenges in drug delivery such as agglomeration and poor drug solubility.
With the ability to individually coat particles, AeonClad Biomedical has the capability to:
Decrease agglomeration of drug particles, increasing drug bioavailability
Improve dissolution and bioavailability of poorly soluble drugs, enabling decreased excipient loading and increased potency of API's
AeonClad Biomedical will also specialize in customizing drug release profiles by uniquely tailoring coatings to allow for modified or sustained release at the micro or nanoparticle level. In addition, the technology can also be used to functionalize particles for targeted delivery.
Medical Devices
AeonClad Biomedical customizes medical device coatings to fit customer specifications. The AeonCoat Technology enables custom coatings varying in functionality, chemical composition, and thickness. AeonClad Biomedical specializes in lubricious coatings, coatings to increase cell adhesion, non-fouling coatings, or functional coatings for attachment of biological materials.
About AeonClad Biomedical
An AeonClad Coatings LLC subsidiary, AeonClad Biomedical LLC utilizes the AeonCoatTM technology, previously licensed by AeonClad Coatings from Dr. Richard Timmons at the University of Texas at Arlington. AeonClad Biomedical is focused on applications for the drug delivery and medical device coatings industries. For more information, visit the company website at www.aeoncladbiomedical.com
About AeonClad Coatings
AeonClad Coatings LLC is a specialty coatings company founded on the pioneering research of Dr. Richard Timmons and his team. The AeonCoat Technology offers a single-step, solvent-free process producing conformable films. The technology also enables functionalization of surfaces to produce antimicrobial, anti-thrombogenic, lubricious, and biocompatible interfaces. AeonClad Coatings is funded and managed by life sciences venture firm, Emergent Technologies, Inc. For more information, visit the company website, www.aeonclad.com
About Emergent Technologies, Inc.
Emergent Technologies Inc. (ETI), founded in 1989 by Thomas A. Harlan, is a unique life sciences venture firm that forms and manages companies and funds that commercialize groundbreaking institutional and university-based technologies. ETI is a turnkey solution for converting university science into high return ventures. ETI works with regional economic development groups and universities to capitalize on what the firm describes as invention capital. In addition to the traditional venture capital approach of raising and investing funds, ETI drives the selection and expansion of each technology assets unique to their region. ETI is pioneering a unique business approach to investment in intellectual property, the key asset to most technology-based start-up companies. For more information, visit the company website www.etibio.com