SCOTTSDALE, Ariz., Oct. 24, 2018 /PRNewswire/ -- BioLab Sciences, an innovator in regenerative medicine technologies, today announced its exclusively licensed technology for MyOwn SkinTM, a painless, non-surgical procedure, which leverages a patient's own skin to produce full-thickness skin grafts in 5-7 days.
MyOwn SkinTM is a revolutionary approach that uses a patient's own skin to accelerate healing of chronic wounds, burns, diabetic foot ulcers and other difficult-to-heal wounds. By utilizing a small skin sample, this regenerative approach allows the body to heal itself and is less likely to face infection or rejection.
"In the United States alone, chronic wounds affect 6.5 million patients," said Bob Maguire, BioLab Sciences CEO. "Our advanced, tissue-biomanufacturing approach offers a viable, effective solution for skin regeneration and repair. This innovative strategy has shown to accelerate the healing of damaged soft tissue and improve wound-care outcomes."
This autologous strategy to wound care is non-invasive, improves recovery time, and eliminates potential rejection. BioLab's impressive portfolio of regenerative products includes its amnion-derived fluid products, Fluid FlowTM and Amnio RestoreTM and its amniotic allograft membrane product Membrane PatchTM, an amnion membrane allograft composed of a connective tissue matrix that regenerates soft tissue while inhibiting inflammation and scarring. BioLab Sciences also offers a comprehensive wound care kit that provides physicians with the necessary tools to help patients recover quickly from diabetic ulcers, burns and other traumatic external wounds, as well as its Amnio Breathe Nebulizer bundled package designed to deliver a topical treatment directly onto a patient's respiratory system.
With its Scottsdale-based lab, a product roadmap of regenerative therapies in multiple platforms and a growing national distribution network, BioLab Sciences is already exceeding sales projections. Maguire expects to generate $4 million in revenue in 2019, jumping to $15 million in 2020, $40 million in 2021, $80 million in 2022 and $120 million in 2023.
Join BioLab Sciences Nov. 2-4, 2018, at Caesars Palace in Las Vegas, Nev., for the Symposium on Advanced Wound Care, the largest wound-care conference in the United States. BioLab Sciences will converge with physicians, clinical experts, researchers and scientists while showcasing their regenerative tissue therapies at Booth #126.
With a growing base of cutting-edge companies, Arizona is poised to become a world-class hub for biomedical research and the fast-growing bioscience industry. Arizona's bioscience industry sector expanded at a rate of 58 percent between 2002 and 2016, according to studies published by the Flinn Foundation in Phoenix. And forward-thinking entrepreneurs like Maguire are contributing to that expansion by launching innovative biotech startups to improve the lives of people around the world who suffer from difficult and complex wound situations.
Maguire concluded, "The groundbreaking field of regenerative medicine has come a long way. The dream of regenerating the body for optimal performance is now a reality with MyOwn SkinTM."
About BioLab Sciences BioLab Sciences is an innovative, regenerative biotechnology company focused on creating new ways to regenerate the body for optimal performance. Through its products and patents, BioLab Sciences is expanding the human body's ability to regenerate by developing and manufacturing human cell and tissue therapies as an alternative to invasive, painful and expensive treatment protocols. For more information, visit www.biolabsciences.net.
This news release contains forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current information and belief, and are not guarantees of future performance. Our ability to predict results, financial or otherwise, or the actual effect of future plans or strategies is inherently uncertain and actual results may differ from those predicted depending on a variety of factors.