United Health Products, Inc. (OTC: UEEC), (“UHP” or the “Company”), developer of HemoStyp, a patented Neutralized Oxidized Regenerated Cellulose (NORC) hemostatic agent, today announced the publication under the Patent Cooperation Treaty of its international patent application relating to any hydrocolloid format of HemoStyp.
The Patent Cooperation Treaty (“PCT”) is an international patent law treaty which provides a unified procedure for filing a patent application in most foreign countries. The Company previously filed provisional patent applications for its HemoStyp gauze and the hydrocolloid process in July 2020 and 2019, respectively.
On February 11, 2021, the Company was notified that its application to establish global patent protection for the process of creating and deploying a hydrocolloid (or gel) format of its previously patented HemoStyp hemostatic gauze was accepted for publication under the procedures of the PCT. This application largely duplicates the U.S. patent #62875798 filed July 18, 2019 to protect this proprietary process and application in the U.S. market and which remains pending.
Accordingly, UHP now has up to one year to register specific patents in those countries where it wishes to commercialize any future HemoStyp gel formats and will do so as its gel-related R&D activity progresses through the first half of 2021.
The Company’s innovative hydrocolloid format, once approved for human surgical applications, will dramatically broaden the market opportunity for HemoStyp beyond what the current gauze and other solid formats can address. The gel format is well suited for specialized procedures such as spinal, vascular and laparoscopic surgeries.
Brian Thom, UHP’s Chief Executive Officer, commented: “This publication is an important milestone in our effort to establish a global IP portfolio that will maximize the commercial value of our technology. While the U.S. Class III market remains our priority as we prepare for the commercial rollout of HemoStyp, we believe the international revenue potential for HemoStyp, particularly in gel format, is substantial.”
About United Health Products --UHP develops patented wound care technologies; manufactures and markets hemostatic products for the healthcare and wound care sectors. The Company’s main product, HemoStyp is an all-natural NORC designed to control bleeding. UHP is focused on identifying new markets and applications for its products and expanding its current markets.
For more information on the Company please visit: www.unitedhealthproductsinc.com
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.
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