FASTFORM RESEARCH, a Waterford-based life sciences research and development company, has signed its first distribution deal with US firm DJO to sell its Multi Cast product.
DJO, which is one of the largest medical device distributors in the United States, will distribute the Multi Cast product, which offers an alternative to plaster of Paris and fibreglass casts, to hospitals and clinics in the US, Europe and Japan.
DJO's products focus on injury prevention and rehabilitation after surgery, injury or from degenerative disease.
"The contract with DJO offers us an exceptional opportunity initially to market our first product - the short arm cast - but DJO's established channels will also enable us to distribute our follow-on suite of splinting and orthopaedic products which are currently in the pipeline," said Fastform Research chief executive David Sheehan.
Mr Sheehan said the firm had focused on research and development since its launch in 2001, but that it was now entering the commercialisation phase and has another five products in the pipeline focusing on body protection.
The company secured a high profile recently when Wexford corner forward Ciarán Lyng used one of the casts to accelerate recovery from a broken hand during the Leinster GAA cham-pionship.
Manufacturing of the Multi Cast product will be outsourced to another firm in Waterford, and Fastform Research will continue to concentrate on developing marketable products. Fastform Research was set up by Mr Sheehan in 2001 to focus on the development and commercialisation of "smart polymer" technologies and superior medical pro-ducts for the healthcare industry. It currently employs five full-time staff and three contract staff at its RD facility in Waterford.
The company has received support from Enterprise Ireland's High Potential Start Ups Division, which owns preferential shares in Fastform Research, and will continue to work closely with the firm to develop further international market opportunities and growth strategies.
In the long-term, Mr Sheehan hopes to scale up the company with the aim of seeking a flotation in a number of years.
In the firm's latest accounts - for the year to June 30th, 2007 - Fastform Research had total assets of €440,170, up from €79,667 the previous year.
