Comvita is a million dollar benefactor of US-based company Derma Sciences Inc's success in selling the honey based wound care product called Medihoney.

It is to receive a capital payment of US$1million on August 30 from the medical device and pharmaceutical company after it met Medihoney sales targets.

Comvita receives this payment owing to its exclusive worldwide licensing agreement of the product.

Derma Sciences CEO Edward J. Quilty says the rapid growth in Medihoney sales, which more than doubled in the first quarter of this year compared with last year, is due to the expansion of their sales team over the past year both in the US and abroad.

'It is also due to the recognition among wound care clinicians of the excellent healing effects of this product, both anecdotally in their own patients and in published peer reviewed articles,” says Edward.

'With an annual run rate of more than US$7million now and the expected launch next year of our recently 510(k)-cleared patented Medihoney Hydrogel dressings, we are looking forward to increasing our investment in dedicated sales representatives to continue to accelerate growth not only in our Medihoney line, but in our growing portfolio of advanced wound care products.”

Comvita CEO Brett Hewlett says Comvita has been impressed by the dedication of the Derma Sciences team and commitment of resources to make Medihoney a world-leading brand of honey-based dressings for the management of wounds and burns.

He says Comvita has an eight per cent ownership of Derma Sciences, a NASDAQ public listed company (Nasdaq:DSCI) and is pleased to receive the success-based milestone.