Abyrx,™ Inc. Announces Option to Acquire Haibo Biotechnology Institute's Soft Tissue Hemostat Technology Platform
IRVINGTON, N.Y., Jan. 27, 2014 /PRNewswire/ -- Abyrx, Inc., a privately-held therapeutic device company, today announced it has entered the soft tissue hemostasis market with an option to acquire for exclusive development, manufacturing, and distribution in all nations excluding China, Haibo Biotechnology Institute's (HBI) proprietary resorbable plant-derived soft tissue hemostat technology platform. The option to acquire is tied to various development milestones that Abyrx will pursue during calendar year 2014.
Since its acquisition of the Hemasorb resorbable hemostatic bone putty portfolio from Orthocon, Inc., and its establishment of operations in 2013, Abyrx has expanded its hemostatic product offerings with two new products, AHBP™, a synthetic, absorbable hemostatic bone putty, and HemasorbPlus™, a hemostatic bone putty comprised of granular hydroxyapatite/beta-tricalcium phosphate and water-soluble components that are fully synthetic and absorbable. With the addition of a soft tissue hemostat to its current portfolio of products, Abyrx is continuing its strategy of horizontally and vertically integrating within the surgical markets it serves.
Commenting on the significance of Abyrx's partnership with HBI, John J. Pacifico, Abyrx's President and Chief Executive Officer, stated, "We are very pleased to be entering the soft tissue hemostasis market in partnership with HBI. Professor Wang and his team members have impressed us with their ability to effectively modify their materials and develop new manufacturing processes to achieve the performance and scalability requirements we believe are necessary to succeed in the market. Indeed, our expansion into the soft tissue space is a natural fit for our organization and we are excited about the potential to add a soft tissue hemostat to our product portfolio."
Professor Mel Wang, President of HBI, stated, "Abyrx is well positioned to advance the research work we have completed with our plant-derived technology platform and develop a market-leading soft tissue hemostat. Through its product development team, led by industry veteran Richard Kronenthal, Ph.D., and its commercial infrastructure, Abyrx has demonstrated the ability to develop and deliver great products to operating rooms throughout the United States."
Terms of the arrangement between Abyrx and HBI were not disclosed.
Founded in 2013, Abyrx develops, manufactures, and provides therapeutic devices for use during surgical procedures. The Company's portfolio of FDA‐cleared products includes three putties that stop bone bleeding and two applicator devices. Abyrx's technology platforms are being developed to create new products that have potential to support bone healing, enable approximation of bone surfaces, and deliver drugs to bone. The Company uses the KAIRUKU Platform (www.kairuku.com) to build and manage multiple point-of-care distribution channels across surgical specialties at each hospital. Abyrx's products are protected by over 40 issued and pending patents.
Abyrx is located in Irvington, New York. For more information, please visit www.abyrx.com and follow Abyrx on Twitter @abyrx.
SOURCE Abyrx, Inc.