Healthcare Industry News: ORGANOGENESIS
News Release - February 25, 2008
Organogenesis, Inc. Announces Acquisition of NanoMatrix, Inc.Regenerative Medicine Leader Strengthens Scaffold-Engineering Capabilities with Electrospinning Platform Technology & Team
CANTON, Mass. and BATON ROUGE, La., Feb. 25 (HSMN NewsFeed) -- ORGANOGENESIS, Inc., the world's most successful regenerative medicine company, announced today the strategic acquisition of Baton Rouge-based NanoMatrix, Inc.
NanoMatrix's platform technology develops "designer scaffolds" for the purposes of regenerative medicine, based on the fabrication technique known as electrospinning. Electrospinning is a novel method of producing and assembling nano-scale fibers into three-dimensional scaffolds, which mimic the structure and biochemical environment of the human body's tissues. NanoMatrix's core technology makes it possible to mimic the three-dimensional architectural structure that is essential for the body's natural growth and repair processes.
"This acquisition strengthens ORGANOGENESIS' position as the leading innovator in developing three-dimensional regenerative medicine constructs," said Geoff MacKay, CEO of ORGANOGENESIS. "The technology platforms of ORGANOGENESIS and NanoMatrix are highly complementary. Our innovative electrospinning techniques enable researchers to develop the most cell-friendly scaffolds and physiologically-realistic tissues to date, translating into greater clinical benefit for the patient."
William C. Fioretti, Ph.D., Chairman of NanoMatrix, said, "We are very pleased with the acquisition by ORGANOGENESIS, which has the team, experience in cellular therapy, and the vision to maximize the platform technology's potential. Our technology can be used to have a significant impact on biomatrix materials and patient care, and this transaction assures that it will come to market. "
ORGANOGENESIS is the first company to successfully mass-produce living regenerative medicine products, reaching hundreds of thousands of patients. Its signature product, Apligraf®, is the first bio-engineered cell therapy to have received FDA approval, and is used by doctors successfully in treating patients with diabetic foot ulcers and venous leg ulcers in the U.S. and other markets across the world.
In addition to acquiring NanoMatrix's platform technology, intellectual property and commercial-scale equipment, ORGANOGENESIS gains NanoMatrix veteran talent, including Gary Cadd, Ph.D. Gary brings with him more than 17 years of biomaterials research, and has already assembled a team within ORGANOGENESIS' Research & Development department to adapt the technology to the Company's core business.
Originally developed by scientists at Virginia Commonwealth University, NanoMatrix's electrospinning capabilities are broad and versatile. Scaffolds can be fabricated from both natural and synthetic polymers (anything from collagen to polypropylene) and can even be manufactured into different sizes and shapes, including tubes, mats and coatings, among others. The fibers comprising the scaffold can be custom-engineered to a specific orientation (parallel / perpendicular) or thickness, including on the "nanometer" scale (a thousand times thinner than a human hair). What results from these capabilities is an implantable scaffold with the correct fiber diameter, orientation and architecture, rendered virtually indistinguishable from native tissue and recognized as "self" by the body.
However, electrospinning is not limited to polymers. Other elements of regenerative medicine, including cells, drugs and bioactive factors, can be combined into the scaffold. In fact, electrospinning is an area of intense focus for academic biomaterials research, validating the importance of this technology platform. While the collagen nanofiber is the core of NanoMatrix's proprietary technology, its patents also cover many different synthetic bioabsorbable polymer types and blends.
"Researchers have used electrospinning techniques to produce a variety of material, including vascular grafts, nerve guides, tendon and skin," continued MacKay. "With such expansive capabilities, the list of applicable indications for electrospinning is vast."
About Regenerative Medicine
A new frontier in healthcare, regenerative medicine is an evolving therapeutic approach that utilizes living cells to repair or replace body tissue damaged by injury, disease or the aging process. It is a multidisciplinary field involving biology, medicine and engineering.
Regenerative therapies rely on the body's own natural ability to repair and regenerate, and enable the body to heal itself Regenerative medicine also empowers scientists to grow living cells, tissues and organs in the laboratory, and to safely implant them into the human body for the purposes of healing.
About ORGANOGENESIS, Inc.
Massachusetts based ORGANOGENESIS, Inc. is the world's most successful regenerative medicine company and is focused in areas of bio-active wound healing, bio-surgery and bio-aesthetics. ORGANOGENESIS delivers living tissue "on demand," and its mission is to bring the medical marvel of regenerative medicine products to patients and to standardize their use in everyday medical care. For more information, visit http://www.ORGANOGENESIS.com.
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