MIMEDX Expands Portfolio with Fibrillar Collagen Wound Dressing

Exclusive agreement provides MIMEDX with rights to commercialize 510(k) cleared, bovine-derived collagen matrix particulate that is indicated for the management of exudating wounds

MARIETTA, Ga., March 20, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”) today announced that it has entered into an agreement with TELA Bio, Inc. to obtain exclusive rights to its manufacturing and supply agreement with Regenity Biosciences that will enable the Company to add xenograft products to its portfolio of Advanced Wound Care and Surgical solutions.

Commenting on this agreement, Joseph H. Capper, MIMEDX Chief Executive Officer, stated, “We are excited to announce the formation of this partnership with Regenity and believe it is an important step toward achieving our long-term growth plan. As we have stated, one of our strategic priorities is to augment our best-in-class placental-derived product portfolio with xenografts and/or synthetic skin substitutes in order to meet the needs of a greater number of customers, domestically and abroad. We are thrilled to begin this collaboration with Regenity, which will add highly complementary products to our growing portfolio of trusted brands and improve our competitive position in the Wound and Surgical markets we serve.”

As part of the manufacturing and supply agreement, MIMEDX will immediately add a 510(k) cleared, bovine-derived collagen matrix product indicated for the management of moderately to heavily exudating wounds and to control minor bleeding to its portfolio. The collagen in this product serves as a dressing that allows for cell adhesion and migration into the wound site and supports wound healing. It is provided in particulate form allowing it to be molded or packed to conform to various wound types such as pressure ulcers, venous stasis ulcers, diabetic ulcers, acute wounds, for example trauma and surgical wounds, and partial-thickness burns.

“We are excited to pair this product with our expansive commercial channel and support network to offer surgeons, clinicians, and their patients another particulate solution that can be used for acute and chronic wound management,” continued Mr. Capper. “Additionally, we look forward to partnering with Regenity and leveraging their expertise to bring other products in our pipeline to market in the future. With the growth goals we have outlined, we continue to evaluate ways to strategically diversify our portfolio, both organically and inorganically, in order to enable MIMEDX to provide a best-in-class offering of innovative healing solutions.”