Covalon and Bard sign license agreement; Bard to apply Covalon's technology on its products

Oct 20 2009

Covalon Technologies Ltd. (the "Company" or "Covalon") (TSX VENTURE:COV), an advanced medical products company, announced that it has signed a License Agreement as well as a Services and Supply Agreement with a division of C. R. Bard, Inc.

The agreements provide that:

• Bard will have a license to use Covalon's technology on a number of its products; and
• Covalon will provide various services to Bard including assistance in technology transfer and product supply.

William Jackson, Covalon Chief Business Officer and Co-Founder stated, "It is extremely rewarding to have collaborated with Bard over the past two years and succeeded in applying our technology on a number of their products. Bard is the market leader for such products in the marketplace. We intend to continue to work closely with Bard to support them in achieving continued success and innovation".

Dr. Frank DiCosmo, Covalon President, CEO and Co-Founder stated, "The conclusion of this deal with Bard validates our role as a technology developer and partner to leaders in the medical device field. This deal showcases our ability to work collaboratively with major medical companies on very complicated, high-value applications. We continue to be confident that the other collaborative development opportunities we are currently pursuing will translate into similar successes as this one with Bard".