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Wound Management Technologies, Inc

Wound Management inks first commercial deal for Resorbable Orthopedic Products subsidiary

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Wound Management Technologies (OTCQB: WNDM) announced Friday that its subsidiary, Resorbable Orthopedic Products (ROP), has entered into a development and license agreement with California-based BioStructures to develop products for bone remodeling in the human skeletal system, based on ROP's patent.

Resorbable Orthopedic Products is a near-term potential revenue stream for Wound Management, whose core business is focused on products for wound care, as the subsidiary owns the rights to several patented technologies, including a resorbable bone wax and a delivery system for orthopedic bone void fillers, among others.

When bone is subjected to surgical trauma, it has the potential to bleed as the blood vessels are damaged, and control of this bleeding during surgery is important to maintain blood pressure, and reduce blood loss. Bone wax is used to apply pressure to control the bleeding, but because these products are not resorbed or metabolized by the body, they delay the healing process. The biggest complication is when not all of the wax is removed during surgery, often requiring another operation for removal.

ROP's product, however, is made of polyethylene glycol, which handles and performs identically to the beeswax formulation used in many of the bone wax products available today, but due to its water soluble nature, it is resorbable by the body, meaning a reduced risk for post-surgical infection.

BioStructures has paid ROP an initial $100,000 licensing fee under the development deal, which calls for ROP to receive additional license fees as well as royalties on sales throughout the life of the patent.  

Under this contract, minimum royalties will begin in 2013 and last until 2023, Wound Management said, with initial commercial sales expected from this business in 2013.

“We are pleased to have reached a license agreement with BioStructures to develop many of the orthopedic products related to Resorbable Orthopedic Products’ patent on resorbable bone wax and bone void fillers," said president of Wound Management Technologies, Deborah Hutchinson.

"This agreement is the first commercial agreement for our subsidiary ROP and marks the start of a second product line for WNDM.

“We believe that BioStructures is the right partner to develop and market these important orthopedic products and we look forward to strong success of these products in the marketplace.”

CEO of BioStructures, Russell Cook, added: "This transaction allows us to combine our portfolio of proprietary biomaterials with a patented resorbable wax carrier.  The combination of these products will further enhance the dynamic product lineup of BioStructures."

 ROP’s patent was developed by Wound Management advisor Barry Constantine and his associates, and was acquired by the company in 2009. Constantine will oversee ROP’s development responsibilities with BioStructures.

Wound Management’s primary focus is the distribution of its patented collagen product, CellerateRX, which is FDA cleared and reimbursable under Medicare Part B. CellerateRX's activated collagen product provides the essential benefits of the collagen protein to a wound immediately, where other forms of native collagen require time for the body to break down the collagen for use in the wound healing process.

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