3M Receives $34.2M Award To Improve Treatment Of Traumatic Wounds From Point-Of-Injury To Hospital
Portfolio Pulse from Benzinga Newsdesk
3M Health Care's Medical Solutions Division received a $34.2 million award from the U.S. Army Medical Research Acquisition Activity to develop advanced wound care solutions. The program aims to improve treatment from point-of-injury to hospital, focusing on infection prevention, wound management, and healing in austere settings. 3M will collaborate with the University of Minnesota Medical School, 59MDW/ST, NAMRU-SA, and UT Health San Antonio. The funding supports product development and clinical studies for product registration over 2023-2027.
January 10, 2024 | 2:18 pm
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3M's Medical Solutions Division was awarded $34.2 million to develop advanced wound care solutions, which may lead to new product lines and revenue streams.
The award is significant for 3M as it not only provides funding for research and development but also positions the company as a leader in advanced wound care solutions for both military and civilian applications. The collaboration with reputable institutions and the focus on a critical area of care suggest potential for new product development and revenue growth. However, the impact on the stock price may be moderate in the short term as the benefits of the award will materialize over a multi-year period.
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