PolarityTE Receives NIH Grant for a Point-of-Care Device to Treat Chronic Wounds

SALT LAKE CITY--(BUSINESS WIRE)--PolarityTE, Inc. (Nasdaq: PTE) today announced it has received notification of being awarded a Phase I Small Business Innovation Research grant from the National Institutes of Health (NIH) for an application titled, “Fluid Management System for Point of Care Device for Novel Regenerative Treatment for Chronic Wounds.” The Phase I grant, which totals approximately $245,000, is funded over a six-month period and will support research to apply for a subsequent larger Phase II grant.

“I’m proud of the hard work the PolarityTE team dedicated to pursuing this grant and we are pleased to see that work validated by an award from the NIH,” said David Seaburg, Chief Executive Officer of PolarityTE. Mr. Seaburg continued, “We will continue to leverage our scientific team’s talent and pursue opportunities we believe will add value to the SkinTE™ franchise.”

“We are incredibly excited to receive this grant and look forward to working with the NIH to generate research supporting the development of a point-of-care device,” said Dr. Nik Sopko, MD, PhD, Chief Scientific Officer. “We believe the ability to use products like SkinTE in a point-of-care setting will help many more patients gain access to novel treatments that can address unmet needs and deliver meaningful improvements to the standard of care.”

About PolarityTE®

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 an easily deployable, dynamic and self-propagating product designed to regenerate the target tissues. PolarityTE's innovative methods are 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®.

Forward Looking Statements

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POLARITYTE, the POLARITYTE logo, SKINTE, WHERE SELF REGENERATES SELF and WELCOME TO THE SHIFT are trademarks or registered trademarks of PolarityTE, Inc.