NYON, Switzerland & POTSDAM, Germany--(BUSINESS WIRE)--
Elanix Biotechnologies AG (FSE: ELN), a developer of tissue regeneration products, announced today that its wholly owned subsidiary, Repair-A Ltd, has acquired a third cell free protein complex (CFPC®) product discovered in the Tec-Pharm laboratories of Professor Lee-Ann Laurent Applegate. Financial terms were not disclosed. This new cream could potentially be used to alleviate a significant dermatological condition and particularly for pediatric use, which affects over 10% of the population in developed countries. The bioactive CFPC creams include proteins, such as collagen and fibronectin that are important for skin repair.
“While this acquisition means we have broadened our product portfolio with a third bioactive CFPC dermatological cream, our immediate focus remains the international commercialization of our topical women’s health cream, GYNrepair®, during the second quarter 2017,” stated Tomas Svoboda, CEO of Elanix Biotechnologies. “Our recently closed €4.76 million financing has provided the resources to deliver on this market launch as well as adding new product formulations when the opportunities arise.”
The new cream, with investigational name PAD-M11, has demonstrated anecdotal relief when used for this dermatological condition. As the product does not contain steroids, side effects have not been observed so far. This means the cream could potentially be used to alleviate the symptoms seen in infants, where steroid creams are contraindicated. Elanix will now continue development of PAD-M11 within its product portfolio, targeting a market launch during 2018.
Repair-A Ltd. is dedicated to the development and marketing of progenitor cell based bioactive CFPC creams. Since its founding in 2007, Repair-A has marketed two bioactive CFPC creams, based on animal progenitor cell technology, in Switzerland that originated from Professor Lee-Ann Laurent Applegate. Elanix Biotechnologies Ltd. acquired Repair-A in September 2016 and is in the process of scaling up marketing of the products in Switzerland and initiating commercialization worldwide.
Elanix Biotechnologies Ltd. (Frankfurt: ELN) develops and commercializes tissue regeneration products for acute wound care, dermatological and gynecological applications, and provides services in cell technologies. The company was founded in 2012 as a spin-out from the University Hospital of Lausanne (CHUV), Switzerland, to commercialize a patented human progenitor cell technology. Progenitor cells are fully differentiated yet immunologically neutral cells that are very potent inducers of tissue growth and healing. Elanix owns GMP certified Master and Working human cell banks with vast quantities of cells.
The Company is headquartered in Nyon, Switzerland with offices in Potsdam and listed on the Frankfurt stock exchange under the symbol ELN. For more information and updates, visit www.elanixbiotechnologies.com
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