The license grants PGM exclusive, world-wide rights to KCI's extensive intellectual property and preclinical product development portfolio enabling effective delivery of negative pressure therapy for orthopedic and spine indications.
"This agreement provides the foundation for our team, rich in talent and experience, to translate the very promising results seen in extensive preclinical studies into products with the potential to significantly improve clinical outcomes and patient satisfaction in orthopedic and spinal surgeries," said James Poser, PhD, CEO and Cofounder of Progenerative Medical, Inc.
Dr. Poser continues, "As a group the cofounders have a twenty-year collaborative history in development and commercialization of clinically proven products. We each made significant contributions to KCI's R&D efforts that led to these new spine and orthopedic indications for negative pressure therapy.
“PGM is now uniquely positioned to continue development and innovation in this field, and to proceed with outcomes-based clinical studies and regulatory filings."
PGM is based in San Antonio, TX, a community instrumental in the development, worldwide adoption and commercial success of negative pressure technologies.
The license enables a first-in-its-class negative pressure technology specifically targeting the skeletal system (bone, cartilage and joints) and, therefore, affords the opportunity to expand the applications of clinically proven negative pressure therapy and to transform industry-wide clinical practice.
