Cohesion CoSeal Launch Set For Late January At Thoracic Surgery Meeting
This article was originally published in The Gray Sheet
Executive Summary
Cohesion Technologies believes that the broad vascular reconstruction indication for its CoSeal surgical sealant makes it less imperative for the firm to pursue site-specific indications immediately
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Cohesion CoSeal
Expansion of the firm's 20-rep U.S. sales force to 25 sales and support staffers is expected by year-end. Cohesion also recently executed contracts with five independent reps in order to meet demand for the surgical sealant. Revenue from CoSeal, approved via PMA in December 2001, has exceeded $1 mil. since its launch in January (1"The Gray Sheet" Dec. 24, 2001, p. 13). The company's Adhibit surgical adhesion prevention gel also has received a CE mark for use in cardiac surgery, and an IDE for a U.S. clinical trial will be filed in early 2003...
Cohesion CoSeal
Expansion of the firm's 20-rep U.S. sales force to 25 sales and support staffers is expected by year-end. Cohesion also recently executed contracts with five independent reps in order to meet demand for the surgical sealant. Revenue from CoSeal, approved via PMA in December 2001, has exceeded $1 mil. since its launch in January (1"The Gray Sheet" Dec. 24, 2001, p. 13). The company's Adhibit surgical adhesion prevention gel also has received a CE mark for use in cardiac surgery, and an IDE for a U.S. clinical trial will be filed in early 2003...
Cohesion
Newly appointed VP-Operations James Barnes is charged with improving the surgical sealant manufacturer's gross margins. Barnes previously held the same position at minimally invasive surgical access product manufacturer InnerDyne, which was purchased by Tyco subsidiary U.S. Surgical in October 2000. Barnes, 49, follows new President and CEO William Mavity, appointed Oct. 1. Mavity, 51, formerly served as president and CEO of InnerDyne (1"The Gray Sheet" Sept. 24, 2001, p. 32). Seperately, a planned restructuring will include a $1.5 mil. cut from the biosurgery firm's annual R&D budget and a 20% workforce reduction. The move will shift resources to operations, sales and marketing of existing technology platforms including the firm's CoStasis surgical hemostat, approved in June 2000, and CoSeal surgical sealant, currently under PMA review. A related charge of $500,000 to $600,000 will be recorded in the quarter ending Dec. 31...