Medical devices company Biocomposites has acquired a minority stake in UK-based Renovos Biologics, for an undisclosed sum.
Renovos has developed a synthetic, biodegradable nanoclay carrier called RENOVITE, which intends to place several pharmaceutical drugs and biologics at the treatment site.
A 23-gauge cannula is utilised for injecting this carrier to support minimally invasive procedures. It will transform into a stiff gel after it gets in contact with physiological fluids such as blood serum.
As a cell-responsive carrier, it expedites healing with a reduced dose of the therapeutic drug.
Renovos will obtain access to Biocomposites’ expertise and knowledge in drug carrier development to advance RENOVITE towards pre-market approval as a carrier for orthopaedic, spine and trauma applications.
Renovos Biologics CEO Dr Agnieszka Janeczek said: “We have long believed in the potential of RENOVITE to overcome the challenges in tissue regeneration by providing unprecedented retention of therapeutics at the site of repair.”
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Furthermore, Biocomposites CEO Michael Harris will join the board of directors of Renovos.
Harris said: “The potential for RENOVITE as a next-generation drug carrier that can enhance the activity of therapeutic drugs at lower doses, whilst giving the surgeon much greater freedom to use in minimally invasive procedures, is very exciting.
“Following on from our recent acquisition of Artoss in June this year and Subiton and Synimed last year, Biocomposites has established itself as the go-to provider for surgeons requiring bone regeneration and/or managing infection in bone and soft tissue.”
Last month, Biocomposites acquired German bone graft substitutes manufacturer Artoss. The company offers NanoBone technology, which can be used as a synthetic degradable bone graft substitute.