Ortec International And HAPTO Biotech Ltd. Form Joint Venture To Pursue Advanced Peptide Based Biomaterial Product For Wound Healing And Tissue Regeneration
10/19/2005 5:11:47 PM
Ortec International, Inc. (ORTN) announced today it has formed a joint venture partnership with Hapto Biotech Inc. (HAPTO) for the purpose of further developing promising product leads identified through a research collaboration established in September, 2002 between Ortec and Hapto. The partnership will seek to optimize the combination of peptides (active molecules) found in Hapto's Haptide(TM) technology with the properties of Ortec's proprietary collagen biomaterial. The joint venture will evaluate the safety and efficacy of a non cellular peptide based collagen biomaterial in promoting the attraction and attachment of healthy cells within the patient's body in regenerating new tissue or repairing wounds. It is believed that this advanced biomaterial may have application to the cosmetic, reconstructive orthopedic and dental markets, as well.
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