RLS Global and Convatec have mutually agreed to terminate their collaboration agreement for ChloraSolv in European markets. The commercial rights to ChloraSolv will be returned to RLS Global.
On June 17th 2021, RLS Global and Convatec entered a collaboration agreement for the commercialization of ChloraSolv in most European markets, with additional rights for Convatec to opt in to commercialize in further global markets. Since then, Convatec has launched ChloraSolv in the UK market and continued sales efforts in the Swedish market. Convatec recognizes the importance of debridement and the effectiveness of the ChloraSolv product. However, consistent with the companies' respective strategic focus, RLS Global and Convatec have now mutually agreed to cease their agreement regarding distribution and exclusive rights for ChloraSolv effective 9 November 2023. Convatec will continue to distribute ChloraSolv to existing customers through Q1 2024.
ChloraSolv is a debriding gel product used in wound care for patients and is recently introduced for animal care as well. With its unique, patented hypochlorite technology, ChloraSolv allows for effective debridement of hard to heal ulcers, thus removing devitalized and damaged tissue to promote wound healing. ChloraSolv's effectiveness has been proved in randomized clinical trials, and is CE marked and approved for commercialization in the EU as well as several other countries.
"We are convinced that ChloraSolv can and will play an important role in the care for patients and animals suffering from hard to heal wounds", says Roland Frösing, MD, Ph.D., acting CEO RLS Global. "Of course this will require a new strategic focus for RLS and that RLS Global must strengthen its financial resources and organizational capacity, which is an ongoing process".
RLS Global (publ) is obliged to make the information contained herein public pursuant to the EU market abuse regulation (MAR). The information was submitted for publication through the agency of the contact person, 09-11-2023 22:00 CET.