Effective today, DelSite, Inc., a drug and vaccine delivery technology company, has changed its stock symbol and has announced that the company’s shares will no longer be trading under the symbol CARN.OB and will now trade on the OTCBB under the new symbol, DSII.OB. Changing the company’s symbol follows the company’s name change from Carrington Laboratories, Inc. on June 30, 2008, pursuant to shareholder approval on June 26, 2008.
DelSite also announced today that the board of directors has made a decision to enter into an agreement to sell its Carrington® wound care division and all its trademarks and related patents for its wound care products to Medline Industries, Inc., a manufacturer and distributor of healthcare supplies and services. After the sale the company will exit the wound care business, including the manufacture of wound care products under the Carrington® brand. Financial terms of the agreement were not disclosed.
Dr. Carlton E. Turner, CEO of DelSite, stated, “The sale of the wound care division allows DelSite to focus on the development and commercialization of its GelSite(r) polymer drug and vaccine delivery technology, to keep the Company on track to file an Investigative New Drug application (IND) for the H5N1 (avian flu) nasal powder vaccine by the end of August 2008, and to initiate dosing of patients with the avian flu powder vaccine in a Phase I trial during the fourth quarter of 2008.”
He continued by further stating, “DelSite will continue the domestic manufacture of specialty products for existing clients and the AloeCeuticals® line until such time as a beneficial exit of our facility in Irving, Texas is feasible. The international manufacture of raw materials, nutritional drinks and products will also continue at the Company’s subsidiary in Liberia, Costa Rica.”
Andy Mills, president of Medline commented, “This agreement highlights our continued strategic approach to this highly specialized treatment area. Having a strong product portfolio is one important part. Developing effective training and innovations such as enhanced educational packaging are other important investments we are making to help advanced wound care professionals improve patient outcomes.”
Let us hear your thoughts below:
