PolyNovo’s NovoSorb evaluated for hernia repair
Calzada (ASX:CZD) subsidiary PolyNovo has revealed that a US specialist device company is evaluating the use of its NovoSorb technology for products used in hernia repair.
The evaluation is expected to last six months. If successful, the parties can choose to negotiate a licensing and supply deal. The terms would involve milestone payments and guarantee PolyNovo royalties on product sales.
PolyNovo would produce the NovoSorb biodegradable polymer material and supply it to the device company, which would commercialise, market and distribute the final devices once they are approved.
Announcing the evaluation agreement, PolyNovo said NovoSorb’s biodegradability, biocompatibility, adjustable biophysical properties and safety profile could give it advantages over existing devices used in hernia repair surgeries.
PolyNovo is developing NovoSorb for a number of applications involving tissue repair and treatment of burns and other full-thickness wounds.
The company last week entered a joint venture to co-develop facial implant devices using the technology for the US plastic surgery market.
Calzada shares were trading 4.29% higher at $0.073 as of around 3 pm on Wednesday.
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