MARIETTA, Ga., Feb. 3, 2015 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spinal, Sports Medicine, Ophthalmic and Dental sectors of healthcare, announced that it has voluntarily withdrawn its tortious interference lawsuit against Organogenesis, Inc., without prejudice. MiMedx has expressly reserved all of its rights and remedies to pursue any and all claims against Organogenesis in the future, including those that were brought in the Company's original complaint.
The Company continues to believe that Organogenesis has engaged in misconduct against MiMedx. However, the Company has determined that, rather than expend its time and resources in a protracted litigation with Organogenesis at this juncture, the Company's efforts would be better spent continuing its investigation into the Organogenesis activities against MiMedx involving not only the Veterans Administration ("VA"), but also other governmental agencies as well as MiMedx customers. MiMedx believes that proceeding in that fashion will be more efficient because it will enable the Company to address any and all improper conduct engaged in by Organogenesis against MiMedx at one time.
MiMedx® is an integrated developer, processor 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 AmnioFix® and EpiFix®, our tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through our donor program, a mother delivering via full-term Caesarean section birth 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 and effective implant. MiMedx® is the leading supplier of amniotic tissue, having supplied over 350,000 allografts to date for application in the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental sectors of healthcare.
SOURCE MiMedx Group, Inc.