Ortho Regenerative Technologies Inc (CSE:ORTH) announced that it has changed its corporate name to ChitogenX Inc to better reflect the company's expanded clinical and commercial opportunities, mission, values, and core competencies.
The company's shares are expected to begin trading on the Canadian Stock Exchange under the new name and new ticker symbol, CHGX at market open on or around September 12, 2022, the clinical-stage orthobiologics company focused on the development of novel soft tissue repair regenerative technologies noted.
"We evaluated our company name in light of the vast potential clinical and commercial applications for our proprietary technology platform, and it was obvious that these applications were much broader than just the orthopaedic field the previous corporate name was inferring to," ChitogenX CEO Philippe Deschamps said in a statement.
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"We opted for a new company name that better represented our identity and expanded possibilities. ChitogenX achieves both," he added.
The corporate name change was approved at the company's last Annual General and Special Meeting of shareholders held via video conference on July 21, 2022, following the passing of a special resolution authorizing an amendment to the company's articles to effect the name change.
No action is required by shareholders in connection with the name change, and no change has been made to the company's share capital.
ChitogenX is dedicated to the development of novel therapeutic tissue repair technologies to improve tissue healing. The company is committed to the clinical development of its proprietary RESTORE technology platform, a muco-adhesive CHITOSAN based biopolymer matrix, specifically designed to deliver biologics such as platelet-rich plasma (PRP) or bone marrow aspirate concentrate (BMAC), to enhance healing in various musculoskeletal conditions.
ORTHO-R, its lead Chitosan-PRP hybrid biologic implant combination product, is formulated and designed to increase the healing rates of occupational and sports-related injuries to tendons, ligaments, and cartilage such as the meniscus. ORTHO-R can be directly and easily applied to the site of injury by a surgeon during a routine operative procedure with minimal disruption to length of surgery. ORTHO-R is currently the object of an ongoing US Phase I/II clinical trial for rotator cuff tear repair in 10 US-based clinical centers.
Contact the author at jon.hopkins@proactiveinvestors.com