Asep obtains worldwide license from UBC for medical device coating technology

VANCOUVER — Asep Medical Holdings Inc., has completed the final milestone in its acquisition of SafeCoat Medical Inc., and entered a worldwide license with the University of British Columbia (UBC), through its subsidiary SafeCoat, for the use, development and commercialization of a medical device coating technology.

Device-related infections are responsible for a quarter of all healthcare-associated infections and are difficult to treat with conventional antibiotics due to the adherence and growth of bacterial biofilms on the surface of the device. Catheters are an example of medical instruments that can cause serious infections. According to the Center for Disease Control and Prevention (CDC), approximately 90 per cent of serious infections caused by catheters are associated with central venous catheters (CVCs). Not only are CVC infections serious for the patient, but they are also costly for hospitals as the cost per infection is estimated to range from USD $34,508 to $56,000. This represents an annual cost for caring for these patients to be approximately USD $296 million — $2.3 billion in the US alone.

The technology encompasses two aspects to prevent device-related infections, which cause an additional cost of $57,000 per patient and require replacement of the infected device. The coating includes an antimicrobial peptide conjugated to the surface of the device to kill bacteria and anti-fouling self-assembling polymers that prevent the dead bacteria from binding to the device surface and masking the killing effect. This coating technology can be applied to various surfaces, including glass, plastic and titanium, on surgical implants, catheters, pacemakers, stents, artificial limbs and organs, and contact lenses. Feasibility has been demonstrated in animal models. Device-related infections are responsible for a quarter of all healthcare-associated infections.

According to Research and Markets Medical Device Coatings: Global Markets report, the estimated value of medical device coatings in 2022 was USD $5.8 billion and is estimated to grow to USD $9.7 billion by 2027, representing a compound annual growth rate (CAGR) of 10.9 per cent.

“We are excited to take this promising new technology forward through SafeCoat Medical and the exclusive worldwide license from UBC. We anticipate that this transaction will create significant new market opportunities as we tackle the problem of maintaining sterile surfaces on medical devices and implants,” said Tim Murphy, Asep Inc.’s COO.

Pursuant to the agreement, Asep Inc. will hold 88 per cent of the issued and outstanding shares of SafeCoat. UBC and the non-waiving inventors of the technology will collectively own the remaining 12 per cent of the issued and outstanding shares of SafeCoat in consideration for the exclusive license grant. Dr. Robert E. W. Hancock, Founder and CEO of Asep Inc., is one of the four non-waiving inventors of the SafeCoat Technology.