PolyNovo eyes plastic surgery market for NovoSorb
Calzada (ASX:CZD) subsidiary PolyNovo has signed a deal to jointly commercialise and distribute facial implant and plastic surgery products based on its NovoSorb polymer technology.
PolyNovo has agreed to co-develop facial implant and aesthetic surgery devices based on NovoSorb with US-based NovoPlastiq, a company formed for the collaboration.
The companies aim to have at least one device approved by the US FDA in the next 12 months, and bring it to market within four months after approval.
Under the agreement, PolyNovo will take a 40% stake in the newly formed venture, in exchange for exclusive marketing and distribution rights for NovoSorb devices in the field of aesthetic facial surgery.
PolyNovo will manufacture and supply the devices, and receive manufacturing revenues and royalties on sales. NovoPlastiq will be responsible for raising capital, gaining regulatory approvals, marketing and distribution.
PolyNovo CEO Laurent Fossaert said the founding NovoPlastiq team “are specialists and have proven expertise in globally commercialising medical devices.”
NovoSorb is a biodegradable polymer with applications in areas including burn and wound treatment.
The material is in clinical development for purposes including: negative pressure wound therapy; as a foam dressing for vacuum-assisted closure of pressure sores; and as a material for use in free flap donor site repair surgery for burn and thick wound treatments.
Calzada shares were trading 1.28% higher at $0.079 as of around 1 pm on Wednesday.
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