SAN DIEGO, Feb. 16, 2011 /PRNewswire/ -- MiMedx Group, Inc. (OTC Bulletin Board: MDXG), an integrated developer, manufacturer and marketer of patent protected biomaterial-based products, announced the launch of AmnioFix, the Company’s newest technology platform. MiMedx formally unveiled AmnioFix earlier today during the first day of the American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting being held in San Diego, California.
MiMedx recently acquired its AmnioFix technology through the acquisition of Surgical Biologics, the leading processor of amniotic tissue and the developer of the patent-pending Purion® process. The Purion® process follows strict guidelines for allograft processing established by the Food and Drug Administration (“FDA”) and the American Association of Tissue Banks (“AATB”). While Surgical Biologics’ tissue processing procedures are regulated by the FDA, the processed tissue, when implanted for certain medical procedures, is not required to be cleared or approved by the FDA.
AmnioFix is processed from the human amniotic membrane through the proprietary Purion® technology to produce an implant that is safe, effective and minimally manipulated. The human amniotic membrane comprises the innermost layer of the placenta, and lines the amniotic cavity.
“With the addition of AmnioFix, MiMedx now has three very exciting biomaterial platforms to offer to physicians and our distribution networks,” said Parker H. “Pete” Petit, Chairman and Chief Executive Officer. “We are pleased to be presenting the many potential applications of the Purion® tissue processing technology for soft tissue repair which should give us offerings that are extremely complementary to our HydroFix Vaso Shield product, HydroFix Spine Shield product and our planned CollaFix products.”
“At the AAOS meeting, MiMedx will demonstrate the potential applications using the AmnioFix tissue allograft as a resorbable scar tissue barrier in spinal surgeries. Our existing HydroFix Vaso Shield product is a permanent and biocompatible vessel cover. We will present the benefits of adding the AmnioFix technology to our existing platforms, which could give MiMedx product or tissue offerings with distinctly different degradation profiles designed to fit the surgeon’s preference based on the specific repair. We will also present the implant potential of our AmnioFix technology for numerous medical areas, such as wound healing, burns, soft tissue trauma, tendon repair and posterior spinal applications,” commented Bill Taylor, President and Chief Operating Officer.
Joining Pete Petit and Bill Taylor at the AAOS meeting are John Daniel, President of Surgical Biologics, and other Scientific and Sales & Marketing members of the MiMedx executive team.
Throughout the AAOS meeting, which is being held at the San Diego Convention Center through Saturday, February 19, 2011, MiMedx is holding various meetings with physicians and scientists to demonstrate the benefits of AmnioFix and the Company’s other current and potential products and implants, and share the progress being made in its CollaFix technology. Throughout the meeting, MiMedx will be located in Booth 5915 at the San Diego Conference Center.
About MiMedx
MiMedx is an integrated developer, manufacturer and marketer of patent protected biomaterial-based products and bioimplants processed from human amniotic membrane. The Company is successfully emerging from a development-focused start-up into a fully integrated operating company with an experienced team poised to capitalize on its science and technology to generate sales growth and profitability. Our mantra is “Repair, don’t replace” because our biochemists, engineers, designers and physicians believe it is better to augment repair when possible rather than replace traumatized, but otherwise healthy tissues and structures. Our platform technologies, HydroFix and CollaFix, and our newest platform processing technology, Purion®, developed by our wholly-owned subsidiary, Surgical Biologics, have a vast number of potential applications in treating traumatized tissue and structures. MiMedx is focused on commercializing multiple applications for the Company’s three technology platforms. In parallel, we are seeking strategic relationships, in selective categories, to more rapidly commercialize our technologies.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management’s beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the potential synergies between Surgical Biologics’ technologies and MiMedx’ current product technologies, the potential product opportunities of AmnioFix and the Purion® technology platform. These statements are based on current information and belief, and are not guarantees of future performance. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that the anticipated therapeutic benefits may not be achieved, that the uses for and physician utilization of AmnioFix and the Purion® technology platform do not meet expectations, that the Company may not receive requisite regulatory clearances and/or approvals to be able to develop and market its full range of potential products from AmnioFix and the Purion® technology platform, or that such clearances or approvals may be delayed, that the Company requires significant additional capital to survive and achieve its goals, which may be difficult or impossible to obtain; that the Company may not be able to establish an effective distribution system for its products in the U.S. or abroad, that the Company’s products may not gain the anticipated acceptance in the marketplace or that acceptance may be delayed, and the risk factors detailed from time to time in the Company’s periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2009. By making these forward-looking statements, MiMedx Group does not undertake to update them in any manner except as may be required by the Company’s disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.
SOURCE MiMedx Group, Inc.
