Subj: Maxwell Technologies Enters Into Exclusive License and...
Date: 2/2/99 12:18:06 PM Eastern Standard Time
From: AOL News
BCC: JerryCo
Maxwell Technologies Enters Into Exclusive License and Supply Agreement With Johnson & Johnson Vision Products for PureBright Sterilization System
SAN DIEGO--(BW HealthWire)--Feb. 2, 1999--Maxwell Technologies Inc. (NMS:MXWL) today announced that its PurePulse subsidiary has entered into an exclusive development and license agreement with the Vistakon Division of Johnson & Johnson Vision Products Inc., a wholly owned subsidiary of Johnson & Johnson, to develop and integrate PurePulse's PureBright pulsed light sterilization system into Vistakon's manufacturing process for contact lenses.
The term of the agreement is designed to continue through the life of the current PureBright patents (i.e., in excess of ten years). This technology takes advantage of pulsed, broad spectrum light rather than heat, chemicals or ionizing radiation.
Tom Horgan, interim chief executive officer of Maxwell, commented, "This agreement follows a prior development agreement by the two companies under which laboratory tests have confirmed PureBright is highly effective in inactivating selected microorganisms such as vegetative bacteria, yeast, molds, and bacterial spores."
"The growing demand for an effective sterilization process that sets new industry benchmarks in speed (i.e., seconds), while maintaining the highest standards of user and environmental safety is the foundation upon which PureBright technology has evolved," noted Ted Toch, president of PurePulse Technologies.
Maxwell Technologies is a leader in pulsed power technologies, providing pulsed power based systems and components for a wide range of commercial applications and research and development for both commercial customers and the U.S. government.
The company's advanced technology solutions address diverse markets such as utilities, telecommunications, medical equipment and products, water purification, food processing and packaging, and transportation. The company also offers industrial computers and subsystems, primarily to OEMs in computer telephony and other markets, and software products and services, both for government research and for various commercial applications.
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including product development based on new technologies, applications and acceptance of new products in major markets, demand for the OEM's product reaching anticipated levels, the impact of competitive products and pricing, FDA approval requirements, and other risks detailed from time-to-time in the company's SEC reports, including the report on Form 10-K for the year ended July 31, 1998. Actual results may differ materially from those projected. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
CONTACT:
Hilary Kaye Associates
Mike Kilroy, 714/426-0444 (media contact)
or
Larry Selwitz, 562/493-2770 (IR contacts)
Eugene Anton, 714/426-0228 |
