May 1, 2007 - Vascular Solutions Inc. announced that, pursuant to a series of agreements entered into by Vascular Solutions and King Pharmaceuticals Inc. in January 2007, Vascular Solutions has provided King with initial launch quantities of the Thrombi-Pad 3x3 hemostatic pad for the control of moderate to severe bleeding.
King's hospital field sales force will promote the product for use in trauma and emergency medical settings. Vascular Solutions expects to receive a $1 million milestone payment from King resulting from the first sale of Thrombi-Pad by King to end-users during May.
As previously disclosed, Vascular Solutions granted King an exclusive license to its hemostat products for use outside of catheterization and electrophysiology laboratories, which includes the Thrombi-Pad hemostat. The license also includes Vascular Solutions' Thrombi-Gel hemostat and Thrombi-Paste hemostat, which is currently in development. Each of these products includes King's Thrombin-JMI (thrombin, topical, bovine, USP) as a component. Vascular Solutions will exclusively manufacture and supply these products to King under a long term manufacturing agreement.
Thrombi-Pad (formerly branded as the Thrombix and the D-Stat Dry 3x3 hemostats) is a powerful hemostatic dressing with a simple "open and apply'' solution for temporary control of moderate to severe bleeding. Thrombi-Pad utilizes Thrombin-JMI in a bandage configuration designed for application in trauma and emergency medical settings.
Thrombi-Gel is a pre-mixed and shelf-stable foam pad of gelatin and Thrombin-JMI that is applied topically for the control of bleeding. Thrombi-Gel is available in three sizes - 10, 40 and 100 - to meet physician preferences, with an additional Thrombi-Paste version under development.
For more information visit www.vascularsolutions.com.