Wound Management Technologies Inc.
Under the Symbol:
Wound Management Technologies Announces 510(k) Clearance of HemaQuell™ Resorbable Bone Wax
Friday, February 19, 2016 9:00 AM
ADDISON, TX / ACCESSWIRE / February 19, 2016 / Wound Management Technologies, Inc. (OTCQB:WNDM) today announced that its Resorbable Orthopedic Products (ROP) subsidiary has received FDA 510(k) clearance for HemaQuell™ Resorbable Bone Wax.
HemaQuell is a water soluble material that is used as a tamponade to control bleeding from bone surfaces. It is based on the multi-faceted patent that the Company acquired in 2009. HemaQuell will be delivered in a unique patent-pending applicator that allows surgeons to directly apply the waxy product on bleeding bones. Unlike other non-resorbable "bone wax" hemostats, which can interfere with bone healing, the HemaQuell bone hemostasis material is completely resorbed between 2 and 7 days and does not delay healing of bone injury.
"We are extremely pleased to have this approval for HemaQuell," commented Deborah Hutchinson, President of Wound Management Technologies. "This project was headed by Barry Constantine, our Director of Research and Development and co-inventor of the related patent. Our surgical sales team has been looking forward to the introduction of this product and we have several surgeons lined up to begin evaluation cases." She continued, "This is a nice companion product for our CellerateRX Surgical powder. HemaQuell will generate additional sales opportunities for our company in the operating room."
"This product will be valuable to control bleeding in bones during surgery," commented Dr. Blaine Farless, Medical Director of Resorbable Orthopedic Products. "I look forward to working with our surgical group on the market launch and introduction of this revolutionary product."
About Wound Management Technologies
Wound Management Technologies, Inc. is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its Wound Care Innovations subsidiary's unique, patented collagen product line, CellerateRX(R) which is FDA-cleared for all wound types except 3rd degree burns. The wound care product line is reimbursable under Medicare Part B and the surgical products are reimbursable as part of procedural billing. The Resorbable Orthopedic Products subsidiary owns a multi-faceted bone wax and bone void filler patent and markets products in the $1.5B biomaterials market. ROP receives royalty income on this patent in addition to the new revenues that are anticipated from HemaQuell Resorbable Bone Wax. For more information visit www.wmgtech.com.
Information about Forward-Looking Statements
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the Company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
SOURCE: Wound Management Technologies, Inc.