NeoPatch is a dehydrated and terminally sterilized chorioamniotic allograft derived from human placental membrane
Image: CryoLife and Misonix have entered into distribution agreement for NeoPatch. Photo: courtesy of Shutterbug75 from Pixabay.
CryoLife, a leading cardiac and vascular surgery company focused on aortic disease, announced today that it has entered into an agreement whereby Misonix will have exclusive US commercialization rights for CryoLife’s NeoPatch product to treat a broad range of indications outside of cardiac and vascular surgery.
NeoPatch is a dehydrated and terminally sterilized chorioamniotic allograft derived from human placental membrane. It is prepared using a proprietary process that maintains intact, native-state amnion and chorion layers and high levels of bioactive compounds, while also yielding a strong, uniform and adherent allograft that is less brittle than other amniotic allografts.
NeoPatch can be used in advanced wound care applications as a “skin substitute” for chronic wounds, such as diabetic foot ulcers and venous leg ulcers, in orthopedic applications as an anti-adhesion barrier and in a variety of other surgical applications such as nerve and tendon repair. The estimated market opportunity for skin substitutes in advanced wound care in the United States exceeds $2 billion.
Pat Mackin, Chairman, President, and Chief Executive Officer of CryoLife, said, “Misonix is the perfect partner to commercialize NeoPatch due to its knowledge and expertise in the wound care business. We expect to commence supplying NeoPatch to Misonix on a pilot basis beginning in the first quarter of 2020, with a full commercial launch in the second quarter. The clinical data for NeoPatch in wound closure, coupled with our securing high-cost reimbursement, will allow for a successful launch of NeoPatch.”
Stavros Vizirgianakis, Chief Executive Officer of Misonix, commented, “We are excited to add an additional product offering in the Wound Biologics market and pleased to enter into this agreement with Cryolife, a leading medical device and implantable tissue provider. NeoPatch is very complementary to our existing wound franchise, including SonicOne and TheraSkin, and will serve as a new source of growth for the Company.
“This agreement further demonstrates the strength and potential of Misonix’s expanding wound offering and sales and distribution capabilities following the acquisition of Solsys Medical earlier this year. Looking ahead, we intend to further grow our wound care portfolio via both in-house initiatives as well as licensing and acquisition arrangements that further leverage our channel to market, which provide healthcare practitioners and patients with improved outcomes.”
Under terms of the agreements, CryoLife will supply NeoPatch to Misonix for wound care, hand, foot and ankle, orthopedic and neurosurgery applications. Pursuant to the agreement, which has a three-year term with automatic renewal provisions, Misonix is obligated to make minimum purchases over the life of the agreement.
Source: Company Press Release