Wound Managements’ Subsidiary, Resorbable Orthopedic Products, Announces BioStructures has FDA 510(k) Clearance for Innovative Bioactive Bone Graft Putty and Bone Graft Extender; Commercial License Grantedadmin
ADDISON, TX – (ACCESSWIRE – February 18, 2014) – Wound Management Technologies, Inc., (OTCQB: WNDM) announced today that its subsidiary, Resorbable Orthopedic Products, LLC, has granted a commercial license to BioStructures, LLC to market their newly FDA 510(k) cleared Bioactive Bone Graft Putty (Signafuse™). BioStructures developed this product under the Development and License Agreement with ROP that was announced on November 11, 2011 under which BioStructures combined their proprietary biomaterials with ROP’s patented resorbable wax carrier. This license creates Resorbable Orthopedic Products first revenue stream.
“We are very pleased to announce this first marketed product that is based on our patented resorbable bone wax technology,” said Deborah Hutchinson, president of Wound Management Technologies. “This gives our Resorbable Orthopedic Products subsidiary its first product. We continue to believe that BioStructures is the right partner to develop and take these unique products to market.”
Signafuse™ is indicated for the posterolateral spine, extremities and pelvis as well as a bone graft extender in the posterolateral spine. Signafuse™ represents a new class of synthetic biomaterials designed for optimization of cell growth and bone formation. Signafuse™ is composed of a biphasic mineral and bioactive glass suspended in a resorbable polymer carrier. The patented polymer carrier gives Signafuse exceptional handling characteristics which allow the graft to be easily molded and shaped for the unique size of the bony defect.
Russell Cook, CEO of BioStructures said, “We are very excited and pleased to receive FDA clearance for Signafuse™ Bioactive Bone Graft Putty. This technology combines our proven biphasic mineral with our patented bioactive and polymer components. We realize the orthobiologic market is crowded with a plethora of commodity offerings, so we wanted to develop a unique and effective device that brings excitement to the surgeon community as well as our distribution partners.”
About BioStructures, LLC
BioStructures is a leading medical device company focused on developing innovative proprietary platforms in bioresorbable bone graft products for a broad range of spinal and orthopedic fusion procedures. BioStructures’ global mission is to develop and commercialize new and innovative products focused on improving bone regeneration and remodeling for related clinical procedures. For additional information on BioStructures, please visit http://www.biostructures.net/.
About Wound Management
Wound Management Technologies, Inc., is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management’s primary focus is the distribution of its unique, patented collagen product, CellerateRX®, which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable bone wax line that is in the late stages of development. More information can be found on the company’s web sites: http://www.wmgtech.com/ and http://www.celleraterx.com/.
Safe Harbor Statement
The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products in development and any other statements not constituting historical facts are “forward-looking statements,” within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company’s actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company’s operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company’s SEC filings, which could cause the company’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
Wound Management Technologies, Inc.
16633 Dallas Parkway, Suite 250
Addison, TX 75001
Phone: (972) 218-0935
SOURCE: Wound Management Technologies, Inc.
Posted: February 18th, 2014 under ACCESSWIRE.