March 6, 2018 (Newswire.com) -
Today, RenovoDerm, a wound care device company, announced that the U.S. Food and Drug Administration (FDA) has cleared its proprietary product, the Phoenix Wound MatrixTM, which is a wound care device that accelerates the body’s healing response, facilitates tissue growth and regeneration, reduces scar formation and enhances overall cosmesis.
The Phoenix Wound MatrixTM is a fully resorbable synthetic graft that closely mimics the extracellular matrix (ECM) found naturally in the body. This product will be used for the treatment of acute, chronic, and burn wounds, which continues to be a concern for both doctors and patients.
“With FDA clearance of our first product, we are thrilled to begin making an impact on wound healing outcomes,” said Ross Kayuha, CEO of RenovoDerm.
The Phoenix Wound MatrixTM has undergone significant testing and generated exciting results. Through Good Laboratory Practice (GLP) animal wound care studies and cases in the veterinary market, the product has demonstrated the ability to stimulate full regeneration of dermal tissue, including sweat glands and hair follicles, which are vital to healthy skin anatomy and physiology.
“When cells are introduced to this material, they react as if it is native tissue,” said Jed Johnson, Chief Technology Officer of RenovoDerm. “The cells adhere to it within seconds, then proceed to migrate, proliferate, and differentiate in a manner consistent with their natural, in vivo behavior.”
RenovoDerm is a subsidiary company of ParaGen Technologies. ParaGen, a joint venture between Nanofiber Solutions, aids in developing the core technology, and Ikove Venture Partners, which provides the funding and go-to-market strategy.
RenovoDerm is a wound care medical device company based in Columbus, Ohio with the mission of improving wound healing outcomes. The company was founded in 2016 as a joint venture between Nanofiber Solutions and Ikove Venture Partners. Over the past eight years, parent company Nanofiber Solutions has developed the base technology used to create the Phoenix Wound MatrixTM. Nanofiber Solutions has more than 33 issued or pending patents and has received more than $5M of grant funding to develop this technology.
About ParaGen Technologies
ParaGen Technologies is the parent of a family of companies focused on diverse clinical areas including wound care, orthopedics, peripheral vascular and hernia repair. ParaGen aims to redefine tissue engineering by addressing the problems associated with synthetic and biologic implants while incorporating their advantages. The company is utilizing synthetic nanofiber scaffolds that promote healing by mimicking the physical structures found naturally in the body. This technology is tailored to meet the needs of specific clinical verticals.
About Ikove Venture Partners
Ikove is a venture development company founded to pursue early-stage investments with an emphasis on technology commercialization in the Midwest. Through its proprietary Startup Nursery, in partnership with multiple U.S. research institutions, Ikove identifies and validates developing high-impact technologies, providing capital and resources to bridge the commercialization gap between lab and market. Over the last three years, Ikove has successfully launched 10 technology companies and created over $100M in equity value through its Startup Nursery, which focuses on nurturing and growing concepts into companies.
All claims are supported by non-clinical animal data.