Cresilon Inc. raised $25 million in a series A-4 financing round led by Paulson Investment Co. The funds will be used to commercialize its plant-based hemostatic gel for human applications and bring it to global veterinary markets. Known as Vetigel in animal medicine, the product is used by veterinarians to instantly stop bleeding in dental and surgical procedures and emergency situations in the U.S., U.K., Europe and Canada.
Since its launch in the U.S. in April, Biolab Sciences Inc.’s Dermistat has facilitated the healing of 80 wounds using its unusual gel-graft formula. The product transforms a patient’s skin cells into a partial thickness skin graft in 48 hours and a full-thickness graft in five to seven days. The autologous graft material speeds recovery following surgery or burns and helps to resolve non-healing wounds.
3M Co. reported a planned spinoff of its health care business by 2023, during the company’s second quarter earnings. The health care company will operate as a separate public company focused on wound care, health care IT, oral care and biopharma filtration. 3M said the health care business is expected to be spun off with net leverage of approximately 3.0x to 3.5x EBITDA and the ‘New 3M’ company will retain a stake of 19.9% in health care, which will be monetized over time.
Healiva SA, a Swiss wound care specialist, emerged from stealth mode having acquired two cell therapy assets from Smith & Nephew plc. Financial terms were not disclosed, but they included an up-front payment as well as “deferred benefits,” Healiva CEO and founder Priyanka Dutta-Passecker told BioWorld. The deal means that the Lugano-based company – which was formed in 2020 – could be booking revenues as early as 2023.
The U.K. National Institute for Health and Care Excellence said its review of the Prontosan line of wound care products by B. Braun Medical AG of Melsungen, Germany, may be a cost saver for the National Health System compared to saline flush for chronic wounds. However, the agency also noted that most of the evidence of the effectiveness is of “not good quality,” suggesting that the company conduct more clinical trials to cover the evidence gap.
Smith & Nephew plc added new indications for use of its Pico 7 and Pico 14 single-use negative pressure wound therapy (sNPWT) systems. The FDA cleared the London-based device maker’s systems for reducing the incidence of both deep and superficial incisional surgical sites and dehiscence. Smith & Nephew’s Pico 7Y system, which treats two wounds simultaneously, was also cleared to aid in the reduction of the incidence of superficial incisional SSIs for high-risk patients in class I wounds, post-operative seroma and dehiscence.
TORONTO – A “silent epidemic” all but “ignored” by medical technology developers. That’s how Carlo Perez, founder and CEO of Swift Medical Inc., described the hesitancy of the industry to directly tackle chronic wound care through development of more advanced medical imaging and diagnostic systems. Undaunted, U.S. and Canadian investors have raised $35 million in series B funding to advance development and uptake of Swift Medical’s own AI-powered, digital wound care platform.
Bioventus Inc. reported plans to acquire Misonix Inc. in a cash and stock transaction valued at $518 million, which the companies expect to close in the fourth quarter of 2021. The transaction will create a total addressable market of $15 billion for the combined company across the wound care, orthopedics, lower extremity and neurosurgery market segments.
PERTH, Australia – Soft tissue regeneration company Aroa Biosurgery Ltd. completed a A$47 million (US$34.72 million) placement on the Australian Securities Exchange that will allow the company to accelerate and broaden its pipeline. What sets Auckland, New Zealand-based Aroa apart from other regenerative tissue companies is the rate of tissue regeneration with Aroa’s scaffold and its affordability, Aroa founder and CEO Brian Ward told BioWorld.
PARIS – Urgo Group SAS has just been awarded $27.7 million in financial support from the French government, to help develop artificial skin for treating deep skin wounds and massive burns.
