Kane Biotech Inc. recently announced a new agreement where BioStem Technologies Inc. (BioStem) is set to acquire commercial products and development technologies from ProgenaCare Global LLC (ProgenaCare), Kane Biotech’s existing US distributor. This deal includes exclusive distribution rights in the United States for Kane’s revyve antimicrobial wound gel.
The announcement was made by BioStem on November 20, 2024. According to the company, acquiring the revyve antimicrobial wound gel aligns with BioStem’s ongoing strategy to develop a wide-ranging portfolio of diverse wound care solutions, enhancing its commercial capabilities.
“With revyve, BioStem has the potential to provide early intervention in wound care, thereby increasing the number of patients we can support and expanding our market channels,” remarked Jason Matuszewski, CEO of BioStem, in their press release. He added that acquiring the ProgenaCare assets “offers a considerable opportunity aligned with our portfolio expansion aims. The products are a natural fit with our mission of offering comprehensive wound-care solutions.”
Marc Edwards, President & CEO, said, “This partnership presents an excellent chance to significantly enhance the US market reach of the revyve line due to BioStem’s strong growth in the wound care industry. We’re thrilled to join forces with the BioStem team to boost US sales of the revyve product line significantly and promptly, while we finalize commercial-scale manufacturing of both the revyve antimicrobial wound gel and gel spray.”
BioStem anticipates closing the deal, subject to customary due diligence, regulatory approvals, and Board permissions, within 60 days. BioStem and ProgenaCare plan to collaborate on integrating revyve into BioStem’s product offerings.
BioStem Technologies is revered as a leading innovator, dedicated to leveraging natural perinatal tissue properties for the creation, production, and market introduction of allografts used in regenerative therapies.
ProgenaCare prides itself as a mission-driven medical device enterprise, utilizing breakthroughs in biomaterials and medical device technology to deliver effective, affordable advanced wound care products to varied socioeconomic groups globally.
Kane Biotech Inc. is engaged in biotechnology focused on the research, development, and commercialization of solutions aimed at preventing and eradicating microbial biofilms.