“Regenerative technologies are paramount in advancing the current state of orthopedics and neurosurgery,” said Dr. Chad Prusmack Chief of Neurosurgery at Rocky Mountain Spine Clinic and consultant to the Denver Broncos. “The use of naturally-secreted human growth factors and matrix proteins, known to stimulate and support stem cell growth in the body, can prove to be transformational in the regeneration of multiple musculoskeletal and neuronal tissues .These unique preparations may be the universal 'transducer' needed for optimizing directed stem cell differentiation and healthy proliferation."
PUR Biologics will build upon early proof-of-concept data to bring orthopedic products based on the CCM and ECM through all stages of development and commercialization. The Company’s first research and development efforts will be in the area of bone regeneration, which has potential benefit in a number of orthopedic applications.
The joint venture will be managed and funded by Histogen’s partner group, made up of experts from the surgery and medical device industries. Ryan Fernan, CEO of the newly-created PUR Biologics, has spent more than a decade in medical sales and management, including bringing OC Surgical from a fledgling medical device distributorship to a multi-million dollar orthopedic business during his time as President of the Company. PUR Biologics’ management and investment group has a proven track record synergistically packaging technologies and advancements in surgery to serve unmet medical needs.
"We are extremely excited to have access to Histogen's groundbreaking scientific platform,” said Ryan Fernan. “Coupled with our extensive experience in product development, sales, and distribution, this will be a powerful relationship that will fuel development of much needed innovation in this space."
The creation of PUR Biologics allows Histogen to support the research required to bring its biologic products toward commercialization in the rapidly growing multi-billion dollar orthopedic market, while continuing to dedicate resources to the Company’s other promising aesthetic and therapeutic programs.
“Histogen’s preliminary studies have shown that our human CCM and ECM materials support stem cell growth and differentiation into bone and other structural tissues, making orthopedics a promising and exciting area of research for our products,” said Dr. Gail K. Naughton, Histogen CEO and Chairman of the Board. “This joint venture provides Histogen the opportunity to see its innovative cell-derived products make strides in the large and important orthopedic market, while continuing to focus on development of its hair growth, skincare and oncology applications.”
About PUR Biologics
PUR Biologics is dedicated to providing regenerative biologic solutions to address musculoskeletal surgical needs, including spine, dental, ligament and medical device coating applications. In addition to distribution of approved allograft and biologic products, PUR is focused on development of next-generation orthopedic products based upon human protein and growth factor materials for bone and tissue regeneration. For more information visit www.purbiologics.com.
About Histogen
Histogen is a regenerative medicine company developing solutions based upon the products of cells grown under proprietary conditions that mimic the embryonic environment, including low oxygen and suspension. Through this unique technology process, newborn cells are encouraged to naturally produce the vital proteins and growth factors from which the Company has developed its rich product portfolio. Histogen's technology focuses on stimulating a patient's own stem cells by delivering a proprietary complex of multipotent human proteins that have been shown to support stem cell growth and differentiation. For more information, please visit http://www.histogen.com.
