SALT LAKE CITY--(BUSINESS WIRE)--PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing and commercializing regenerative tissue products and biomaterials, announced today that the company has recently been granted a patent in New Zealand and has received approvals for patent applications in the United Kingdom and Australia. The grant of PolarityTE’s Canadian patent was announced in August, bringing the total number of patents and approvals in 2019 to four. These developments demonstrate the momentum of PolarityTE’s ongoing efforts to develop, support and protect its intellectual property.
The New Zealand patent and the UK and Australian patent acceptances relate to PolarityTE’s distinctive micro-aggregate technology. Aspects of this micro-aggregate technology are central to the Company’s SkinTE™ product, which is commercially available in the United States for the repair, replacement, reconstruction or supplementation of skin tissue in wound, trauma and burn patients.
“These additional approvals demonstrate the advancement of our patent procurement efforts and the value of our tissue regeneration technology,” said Jennifer Burdman, Chief Intellectual Property Officer at PolarityTE. “The patent grants we’ve obtained this year demonstrate the ongoing success of our strategy to build out PolarityTE’s IP portfolio. We value the impressive innovation of the PolarityTE team and will continue to invest in the protection of these important assets.”
The New Zealand patent was granted as number 733433 on December 5, 2019. The applications that have been approved and will soon be issued as granted patents are United Kingdom Patent Application No. GB1902819.0 and Australian Patent Application No. 2015355187. PolarityTE continues to pursue patent protection related to its micro-aggregate technology in the United States and internationally. Additional technologies invented by the Company are being pursued in patent applications in the U.S. and abroad.
PolarityTE President David Seaburg added, “We are pleased to see that our intellectual property portfolio continues to gain strength. Validating our innovative technology is part of our ongoing commitment to change the lives of patients with our current SkinTE product and the other products that are part of our pipeline.”
PolarityTE is focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering and material sciences. Rather than manufacturing with synthetic and foreign materials within artificially engineered environments, PolarityTE manufactures products from the patient's own tissue and uses the patient's own body to support the regenerative process. From a small piece of healthy autologous tissue, the company creates a dynamic and self-propagating product designed to regenerate the target tissues. PolarityTE's innovative method is intended to promote and accelerate growth of the patient's tissues to undergo a form of effective regenerative healing. Learn more at www.PolarityTE.com – Welcome to the Shift®.
SkinTE is a human cellular and tissue-based product derived from a patient's own skin intended for the repair, reconstruction, and replacement of skin tissue. SkinTE has been proven to regrow skin over exposed bone, muscle, joint and tendon and has been used to treat a variety of skin defects, including burns, wounds, traumatic injuries, surgical reconstruction, scars, and failed skin grafts or conventional treatments for wounds and burns.
SkinTE is intended to be used by physicians or other appropriate healthcare providers for homologous uses of skin tissues/integument. Patients who have suffered from an event, disease, process or acquired deficit that results in the functional loss or void of skin/integument systems can receive SkinTE as an adjunct and/or in place of split-thickness skin grafting, full-thickness grafting, temporizing skin coverage and/or skin substitute products. SkinTE is for autologous use only. Aseptic technique during harvest and deployment of SkinTE is mandatory. SkinTE is marketed as an HCT/P regulated by the FDA solely under Section 361 of the Public Health Service Act and 21 CFR 1271.
Forward Looking Statements
Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. They are generally identified by words such as "believes," "may," "expects," "anticipates," "intend," "plan," "will," "would," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Our actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov).
POLARITYTE, the POLARITYTE logo, WHERE SELF REGENERATES SELF, WELCOME TO THE SHIFT, and SKINTE are trademarks or registered trademarks of PolarityTE, Inc.