Toronto, Canada, January 4, 2011 - For Immediate Release
Interface Biologics Inc. (IBI), a privately held commercial stage developer of transformative biomedical-polymer products, is pleased to announce the signing of a joint development agreement with BASF Future Business GmbH to collaborate in the development of new polymeric formulations with antimicrobial and anti-thrombogenic properties. By joining IBI's anti-thrombogenic technology with BASF's proprietary anti-microbial technology platform, a combined effect can be achieved that will lead to new materials that can substantially improve the safety and performance of medical devices.
BASF Future Business GmbH opens up new business opportunities for BASF, the chemical industry's leading player. "In the area of medical devices materials we expand our offering by developing enabling solutions for our customers in partnership with highly innovative companies such as Interface Biologics, Inc.", commented Stefan Becker of BASF Future Business GmbH. "We are impressed with IBI's world class technology and are excited to work with their team. New functional materials for medical applications not only improve the standard of medical care for an aging population, but also address important economic needs such as the cost pressure in the healthcare system. Polymeric materials able to prevent dangerous and costly hospital acquired infections are an important example."
Mark Steedman, V.P. Business Development at IBI, underscored the strategic importance of working with BASF Future Business. "This co-development agreement with BASF represents a major milestone for IBI on two fronts. First, in combining our Endexo anti-thrombogenic additives with BASF's proprietary anti-microbial technology, this is the first time that we have investigated a combination effect. If successful, this could open up other opportunities for other combination benefits with the Endexo polymers. Second, to partner with a major industry player like BASF underscores the interest in IBI's technology as a fundamental future building block of new material development. We are excited about this strategic partnership with BASF and look forward to mutually successful product developments".
Interface Biologics, Inc. will be presenting at OneMedForum 2011 on January 11, 2011 at Sir Francis Drake Hotel in San Francisco.
About Interface Biologics Inc.
Interface Biologics is an early commercial stage privately held company that develops transformative biomedical polymer technology to improve the safety and effectiveness of medical devices. IBI’s primary technology focus areas are anti-thrombogenic devices that reduce thrombosis without the need for heparin, anti-infective polymers, and programmable combination drug delivery devices. IBI, a University of Toronto spinoff, is now located at the MaRS Centre in Toronto, Canada. For more information about Interface Biologics, please visit www.interfacebiologics.com
About BASF Future Business GmbH
BASF Future Business GmbH, a 100 percent subsidiary of BASF SE, was founded in April 2001. It aims to open up business areas with above-average growth rates that lie outside BASF's current activities. The company focuses on chemistry-based new materials, technologies and system solutions. BASF Future Business GmbH commissions research from BASF's R&D units and cooperates with startup companies, industrial partners, universities and potential customers. Further activities include acquisition of direct stakes, initiation of joint ventures and provision of venture capital via the subsidiary BASF Venture Capital GmbH. Further information on BASF Future Business is available on the Internet atwww.basf-fb.de
FOR FURTHER INFORMATION PLEASE CONTACT:
Julie Fotheringham - Partner, Hageman Communications