Organogenesis Announces Acquisition of NanoMatrix
News Feb 26, 2008
NanoMatrix's platform technology develops "designer scaffolds" for the purposes of regenerative medicine, based on the fabrication technique known as electrospinning. Electrospinning is a novel method of producing and assembling nano-scale fibers into three-dimensional scaffolds, which mimic the structure and biochemical environment of the human body's tissues.
NanoMatrix's core technology makes it possible to mimic the three-dimensional architectural structure that is essential for the body's natural growth and repair processes.
"This acquisition strengthens Organogenesis' position as the leading innovator in developing three-dimensional regenerative medicine constructs," said Geoff MacKay, CEO of Organogenesis.
"The technology platforms of Organogenesis and NanoMatrix are highly complementary. Our innovative electrospinning techniques enable researchers to develop the most cell-friendly scaffolds and physiologically-realistic tissues to date, translating into greater clinical benefit for the patient," MacKay added.
William C. Fioretti, Ph.D., Chairman of NanoMatrix, said, "We are very pleased with the acquisition by Organogenesis, which has the team, experience in cellular therapy, and the vision to maximize the platform technology's potential. Our technology can be used to have a significant impact on biomatrix materials and patient care, and this transaction assures that it will come to market."
Organogenesis is the first company to successfully mass-produce living regenerative medicine products, reaching hundreds of thousands of patients. Its signature product, Apligraf®, is the first bio-engineered cell therapy to have received FDA approval, and is used by doctors successfully in treating patients with diabetic foot ulcers and venous leg ulcers in the U.S. and other markets across the world.
In addition to acquiring NanoMatrix's platform technology, intellectual property and commercial-scale equipment, Organogenesis gains NanoMatrix veteran talent, including Gary Cadd, Ph.D. Gary brings with him more than 17 years of biomaterials research, and has already assembled a team within Organogenesis' Research & Development department to adapt the technology to the Company's core business.
"Researchers have used electrospinning techniques to produce a variety of material, including vascular grafts, nerve guides, tendon and skin," continued MacKay. "With such expansive capabilities, the list of applicable indications for electrospinning is vast."