MiMedx Issued First U.S. Patent for Placental Tissue Grafts
KENNESAW, Ga., Dec. 6, 2012 /PRNewswire/ -- MiMedx Group, Inc. (OTCBB: MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today its receipt of the Company's first issued patent related to tissue grafts derived from the placenta. The U.S. Patent Office has issued to MiMedx U.S. Patent Number 8,323,701, "Placental Tissue Grafts", originally filed in September 2007 and granted on December 4, 2012. This patent relates to the AmnioFix® brand allografts.
Parker H. "Pete" Petit, Chairman and CEO stated, "We are pleased to be the recipient of our first placental based U.S. patent. We expect some other related patents to issue in the very near future. Also, MiMedx has filed 25 additional patent applications relating to the use of our placental tissue allografts."
The MiMedx proprietary PURION® Process for amniotic membrane tissue processing produces an allograft that can be stored at room temperature for five years without the need for refrigeration or freezing. This allows hospitals, clinics and surgeons to effectively manage their inventory of allografts. The grafts can be utilized right out of the package without a complicated thawing process.
Bill Taylor, President and COO, commented, "This is the first of many patents to come that capture the special characteristics of our PURION® process for amniotic tissues, which very gently cleans the tissue, yet preserves the critical elements that are instrumental in wound healing."
About the Company
MiMedx® is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include the device technologies HydroFix® and CollaFix™, and our tissue technologies, AmnioFix® and EpiFix®. Our tissue technologies are processed from human amniotic membrane that is derived from the donated placentas. Through our donor program, mothers delivering full-term Caesarean section births can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. We process the human amniotic membrane utilizing our proprietary Purion® Process, to produce a safe, effective and minimally manipulated implant for homologous use. MiMedx® is the leading supplier of amniotic tissue, having supplied over 100,000 implants to date to distributors and OEMs for application in the Wound care, Surgical, Sports Medicine, Ophthalmic and Dental sectors of healthcare.
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 anticipated approval of pending patents related to placental tissue allografts utilizing the Company's PURION® process for amniotic tissues and the impact of the five year at room temperature shelf life of the Company's allografts on hospitals, clinics and surgeons more effectively managing their inventory of allografts. 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 approval of pending patents related to placental tissue allografts utilizing the Company's PURION® process for amniotic tissues may not materialize as anticipated, the five year at room temperature shelf life of the Company's allografts may not impact the allograft inventory management of hospitals, clinics and surgeons as anticipated, 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, 2011. By making these forward-looking statements, the Company 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.