MONTREAL, Sept. 1, 2016 /CNW/ - Ortho Regenerative Technologies Inc. ("Ortho" or the "Corporation"), a regenerative medicine company focused on products for repair of sports medicine injuries, announced today the issuance of a patent from the United States Patent and Trademark office entitled "Soluble Physiological Chitosan Formulations Combined with Platelet Rich Plasma (PRP) for Tissue Repair". US Patent 9,427,469 covers: 1) Specific chitosan formulations together with platelet rich plasma; and 2) Use of those formulations for biological repair of tissue.
"The issuance of this patent marks an important milestone for Ortho as it provides protection for our lead product candidate in the world's largest sports medicine market," said Edward C. Margerrison, PhD, President and CEO of Ortho.
Protected in the patent is the Corporation's lead product candidate, Restore-R™, a proprietary biopolymer being developed to biologically repair shoulder rotator cuff injuries. Surgical attachment of the tendons, the current standard of care, usually fails to reduce pain and/or restore function because of inadequate biological healing. Currently no method or product provides biological healing of the tissue in this indication, and as a result, the failure rates of surgery are unacceptably high.
The new patent is the first of four (4) patent applications in the Corporation's portfolio to issue. The patents and patent applications protect the Corporation's proprietary product candidates and their use. These patent applications are currently pending in Canada, the EU, and other major market territories around the world.
Restore-R™ is a room temperature-stable biopolymer being developed to be used in surgical procedures to repair shoulder rotator cuff injuries. The patented biopolymer has been specifically designed and formulated to reduce the high failure rate of surgical repair of the rotator cuff in the shoulder. Restore-R is designed to work within the current standard of care in an orthopedic surgical suite without significant additional surgical time, at a price expected to fit into current payer payment paradigms in the US.
About Ortho Regenerative Technologies Inc.
Ortho Regenerative Technologies, Inc. ("Ortho") is a biotechnology Corporation developing its patented biopolymer product Restore-R™ to address an unmet medical need in the multi-billion dollar Sports Medicine market. Restore-R™ is being developed to biologically repair shoulder rotator cuff injuries, where surgical attachment of the tendons, the current standard of care, usually fails to reduce pain and/ or restore function because of inadequate biological healing. Currently no method or product provides biological healing of the tissue in this indication, and as a result, the failure rates of surgery are unacceptably high. Lack of biological repair of these tissues leads to reduced mobility, enduring pain, workplace absence, and expensive revision surgery. Restore-R™ has been designed as an add-on to currently existing surgical procedures to promote biological healing of the tissue and significantly reduce complications and failure rates.
Ortho's proprietary biopolymer technology platform, Restore™, has broad potential use for the development of multiple additional products addressing other unmet needs in ligament, tendon, and soft tissue repair. Subsequent indications include repair of the meniscus in the knee, other ligaments and tendons such as the ACL and the spinal disc.
Caution regarding forward-looking statements
This news release may contain certain forward-looking statements regarding the Corporation's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Corporation disclaims any intention or obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
SOURCE ORTHO REGENERATIVE TECHNOLOGIES INC.
For further information: Inquiries: Edward Margerrison, PhD, President and CEO, Ortho Regenerative Technologies Inc.,[email protected], 512-550-8005