23 Jan 5 Companies In The Wound Healing Market To Watch For In 2019
The global wound healing market is projected to reach USD 42,069 million by 2024 growing at a CAGR of 6.2%, according to ResearchAndMarkets.com. North America is the largest market for wound care, with U.S alone taking a lion’s share of 38.5% in 2017 while Asia-Pacific is the fastest growing market.
The advanced state of medical services, rise in disposable income, increased awareness and early intervention, advances in technology, increasing geriatric population, higher incidences of diabetes, ulcers, obesity and a growing number of surgical procedures are providing impetus to the growth in the industry.
Introduction of new technology such as tissue sealants, negative pressure therapy systems, and synthetic skin replacements are changing the landscape of the industry. Novel therapies such as nanotechnology, use of silver, electrical stimulation and electromagnetic are making wound care products more comfortable and flexible than traditional wound care products. The focus is to create epithelialisation by lessening the frequency of changing required, thereby fastening the healing process.
We take a look at some of the companies that are developing novel technologies to address the unmet and growing needs of the wound care market.
Bioxytran (OTCPK: BIXT)
Market Cap: $ 25.53M; Current Share Price: 0.30 USD
It is a Biopharmaceutical company that is offering first-in-class solutions in the field of regenerative medicine by developing a drug candidate named BXT 252 that has a plethora of wound healing applications. It envisages a huge potential for its BXT-252 Drug candidate for Ischemic wound healing.
BioXyTran Inc.’s product BXT-252 improves oxygen supply to wounded tissue and helps accelerate healing.
This can also be used in conjunction with existing and emerging technologies such as bio-membranes, skin substitutes, scaffolds, laser techniques, stem cells, fetal tissue, etc.
Its lead drug candidate BXT-25, a haemoglobin based polymer, is 5,000 times smaller than a red blood cell allowing it to be used for dissolving clots in the brain. Its FDA approved OXYSENSE Technology allows it to measure oxygen delivery to brain in real-time.
BXT-251, another drug candidate aims to prolong extracorporeal circulation in cases of organ donations that can help them preserve organs for days rather than hours.
The company is currently focussed on raising funds for conducting clinical trials. It also seeks to build a strong patent application and intellectual property right portfolio in the immediate future.
The company has also filed a prospectus for a “Best Efforts No Minimum” offering of 10 million shares of common stock at $1 per share in November 2018.
Promore Pharma (NASDAQ First North: PROMO (FNSE) SEK/share)
Market Cap: SEK 282.28M; Current Share Price: 13.95 SEK
A Swedish biopharmaceutical company that aims at developing novel solutions for the bioactive wound care market, Promore Pharma has two peptide based product candidates PXL01 and LL-37 in clinical trial stages, which are meant for the treatment of post-surgical adhesions and scars and venous leg ulcers respectively. These peptides are derived from the innate human defence systems, giving it a strong safety profile and minimal adverse reactions. It has multiple international patents valid till 2030 to protect the therapeutic usage, dosage etc., The Company has strategic collaborations with research organisations and manufacturing organisations and outsources most of its processes.
The company seeks to complete clinical trials for its product candidates and enter licensing or commercials agreements, joint ventures or asset sales with larger pharmaceutical companies with a global presence.
The company reported net sales of 1 MSEK, and an operating loss of 7.4 MSEK, cash and cash equivalents of 39.5 MSEK as per its Interim report for January – September 2018.
The company achieved significant strides in finding valuable collaborations by entering into out-licensing agreement for PLX01 with PharmaResearch Products Ltd, which will provide funds for the development PLX01 to prevent fibrosis after spinal surgery. In addition it received regulatory approvals to start clinical trials for LL-37 in Poland and Sweden. It also received a go-ahead from the Drug Controller General of India to start Phase III clinical studies for PLX01. It is currently in talks with FDA for PLX01.
MediWound Ltd (NASDAQ: MDWD)
Market Cap: $ 119.86M; Current Share Price: 4.41 USD
A niche specialist in the severe burn and chronic wound management category, Mediwound’s innovative NexoBrid®, that uses its patented proteolytic enzyme technology, is used for treating eschar in adults with deep partial and full thickness thermal burns. It enjoys orphan drug status in the U.S and E.U markets along with patent protection and exclusivity for 7 and 10 years.
The company has been awarded a U.S Biomedical Advanced Research and Development Authority (BARDA) Contract Valued Up to $43 Million for Development of NexoBrid® for Sulfur Mustard Injuries. The contract also provides an additional $12 million for research and development activities under the FDA Animal Rule. The up to eight-year contract also provides for an additional funding of $31 million for other development activities, animal pivotal studies, and the FDA Biologics License Application (BLA) submission.
The company also has two other novel products in the pipeline. EscharEx a topical drug for application in chronic, difficult-to-heal wounds is under the clinical trial stage while MWPC003 for the treatment of connective tissue disorders in preclinical stage. According to the company’s Q3 financial results, revenues for the third quarter of 2018 were $0.9 million, while gross profit was 0.5 million.
Sanuwave Health (OTCQB: SNWV)
Market Cap: $ 35.77M; Current Share Price: 0.23 USD
Sanuwave’s proprietary, patented Pulsed Acoustic Cellular Expression (NASDAQ:PACE) technology which is based on the principles of electro hydraulics, releases acoustic shock waves that activate the body’s biological signalling promoting revascularization and microcirculatory enhancement.
It has three devices that work on the PACE technology. First is dermaPACE® System its lead device that is cleared by the FDA for treating Diabetic Foot Ulcers, which has also been currently licensed or approved in Canada, E.U, Australia, New Zealand and South Korea. The second device, orthoPACE®, is for orthopaedic and musculoskeletal indications. The third device, OssaTron®, is meant for orthopaedic conditions that are unreceptive to traditional treatments. The company has patented its Shockwave therapy for use in non-medical fields such as oil recovery, water purification, bacterial reduction in food, particulate separation, and biofilm removal to name a few.
At present SANUWAVE and its subsidiaries own a total of 65 patents issued or pending in the field of shockwaves used in medical and non-medical applications.
Revenues for the three months ended September 30, 2018 were $595,789, compared to $161,585 for the same period in 2017, an increase of $434,204, or 269% as per the company’s Q3 financial results. The increase was due to rise in dermaPACE and orthoPACE devices sales in Southeast Asia and Europe. The company has an agreement with Johnfk Medical Inc, Singapore for the manufacture, sale and distribution of the Company’s dermaPACE® and orthoPACE® devices covering 11 countries in Southeast Asia.
OSIRIS Therapeutics (NASDAQ: OSIR)
Market Cap: $ 500.63M; Current Share Price: 14.50 USD
The company is engaged in developing novel solutions using bioengineered stem cells and tissue based products for meeting the needs in varied fields such as orthopaedic, sports medicine and wound care. It’s commercially successful product line includes Grafix , Stravix, BIO4® and Cartiform.
It has an exclusive commercial and development collaboration with Arthex for distribution of Cartiform in lieu of certain commission. It receives a series of milestone and royalty payments from the sale of its culture-expanded mesenchymal stem cell (ceMSC) business, including Prochymal® to Mesoblast Limited.
Grafix and Stravix are human placental tissue-based products that are used for treating conditions such as Diabetic foot ulcers, venous leg ulcers, severe burns etc. Its BIO product is a bone matrix allograft used for filling voids and bone fusion procedures. The company’s Cartiform is a cryopreserved viable osteochondral allograft used in the treatment of articular cartilage lesions in the knee and other joints.
According to its Q3 2018 financial results, revenue was $36.5 million for the three-month period ended September 30, 2018, which increased $6.7 million or 22.4%, compared to revenue of $29.8 million for the three-month period ended September 30, 2017.
Markets and Markets “Wound care market – Global forecast to 2021”
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.