Business
MIMEDX Announces Wound & Surgical Product Pipeline Expansion via In-Licensing and Distribution Agreement with Turn Therapeutics
Agreement provides MIMEDX with exclusive rights to Turn’s PermaFusion® proprietary antimicrobial intellectual property (IP), accelerating the product
About this update from Mimedx Group, Inc
[{"type":"text","content":"Agreement provides MIMEDX with exclusive rights to Turn’s PermaFusion® proprietary antimicrobial intellectual property (IP), accelerating the product development pipeline for wound and surgical recovery applications MARIETTA, Ga., Dec. 08, 2022 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”), a pioneer and leader in placental biologics, today announced that it has licensed worldwide exclusive rights to Turn Therapeutics’ proprietary antimicrobial technology platform, PermaFusion®, for the development of future biologic products focused on wound and surgical recovery applications. “Today’s transaction enables a meaningful expansion of our product development pipeline ambitions,” stated Todd Newton, MIMEDX interim Chief Executive Officer. “This deal allows us to bring new amniotic tissue and particulate products to market with antimicrobial properties significantly faster, consistent with our stated goal of ensuring that our R&D activities are prioritized, productive and pursued with a sense of urgency. Putting together Turn’s intellectual property with our tissue know-how will help us leapfrog into the next generation of biologics for our Wound & Surgical business.” PermaFusion® is petrolatum-based, liquid-in-oil suspension technology that involves the creation of nanodroplets without binding agents or emulsifiers and also includes a process to coat materials with antimicrobial-infused petrolatum. Turn’s IP estate includes “mixing” and “coating” IP and provides protection up to 20 years. MIMEDX expects this technology to be included in the creation of a number of new antimicrobial biologic products for the Wound & Surgical markets. “For many patients suffering from acute and chronic soft tissue defects, the risk of bioburden is significant and can lead to numerous complications that impede their ability to make a full recovery,” added Dr. Rohit Kashyap, MIMEDX President, Wound & Surgical. “In acquiring the rights to PermaFusion®, I am excited to help usher in a new generation of products for the wound and surgical markets that combine MIMEDX’s best-in-class placental-based allografts with antimicrobial technology that can help reduce risks associated with healing complications, such as surgical site infections. We look forward to building upon our current portfolio and including this important an...