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gel-e wins USD1.4m hemostatic development order from the US Military.

M2 EQUITYBITES-February 20, 2018-gel-e wins USD1.4m hemostatic development order from the US Military

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Medical device company gel-e Inc reported on Monday the receipt of USD1.4m in grant from the Department of Defense (DoD) through the US Army Medical Research and Material Command (USAMRMC) to develop advanced solutions for prolonged field care.

The company added that the military grant will support the development of an expanding foam hemostat for the treatment of internal non-compressible haemorrhage that typically results from being struck by shrapnel or a significant concussive force.

Under the company's hemostatic platform, it has been optimising flowable formulations for internal and surgical use. Consequently, certain product candidates have been identified that can be administered in far-forward locations to quickly stabilise internal injuries, allowing time for evacuation of the wounded to a field surgical OR.

In addition, the company has received an expansion of its SBIR Phase II grant to support additional seminal research into the development of new flowable, internal-use hemostatic formulations. The National Science Foundation order is based on previous success as a Phase I and II recipient.

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Publication:M2 EquityBites (EQB)
Date:Feb 20, 2018
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