SUBIACO, Australia--(BUSINESS WIRE)--Avita Medical Ltd. (ASX: AVH), the regenerative medicine company, is pleased to announce that it has successfully completed the transfer and acquisition of intellectual property currently licensed through the McComb Foundation of Western Australia.
By the recently signed “Patent Rights Acquisition and Licence Agreement”, all patents, patent applications and other patent rights currently licenced to Avita Medical Ltd, including worldwide rights to all intellectual property representing two patent families including: “Cell Suspension Preparation Technique and Device” and “Cell Suspension Preparation Kit”, have been assigned and transferred to Avita Medical Ltd by the McComb Foundation. The commercial manifestation of the patented technologies include CellSpray™ for the rapid culture of autologous epithelial cells for reapplication to a wound in the form of cultured epithelial sheets and ReCell® Spray-On Skin™ for the rapid dissociation of epithelial tissue, creation of a suspension of non-culture cells and the immediate delivery of the cell suspension to the patient.
In recognition of the value of the IP, Avita has agreed to pay McComb an on-going royalty of 1% of revenues generated through application of the transferred IP through the life of the current patents.
In related news, Avita has been informed that its application for patent protection titled “Cell Suspension Preparation Technique and Use” for 16 specific claims over the method, resulting cell suspension and apparatus for delivery of disaggregated skin cells has been granted by the Hong Kong SAR Patent Registry, Patent number HK1057713; the duration of the patent is 20 years.
Dr. William Dolphin, CEO of Avita Medical, said: “The importance of international intellectual property protection has increased as Avita has expanded into the global markets with its products. Strong intellectual property protection is a major competitive advantage and a cornerstone of the company’s valuation. Securing the ownership of the technology underlying Avita’s key regenerative products through this transfer agreement is a significant milestone for the company. Ownership of the patents allows Avita control over the internal and external use of its intellectual property, crucial as the company expands its markets and further develops related IP. Grant of the Hong Kong patent is another important accomplishment. Avita will continue to pursue protection of its intellectual property in the coming years.
“Avita maintains a close working relationship with the scientists at the McComb Foundation and will continue to support sponsored research through McComb to the mutual benefit of Avita, McComb and the general public.”
More than 4,500 patients have been treated with ReCell for treatment of chronic ulcers, burns, hypo- and hyper-pigmentation (e.g., Vitiligo, a common skin pigmentation disease), scar revisions (e.g., acne), and aesthetic skin rejuvenation procedures (e.g., wrinkle removal). Use of ReCell has been clinically demonstrated to improve outcomes, reduce morbidity, and reduce length of hospital stay and patient care costs.
ABOUT RECELL® SPRAY-ON SKIN™
ReCell allows in‐theater preparation of a spray‐on suspension consisting of cells derived from a small (2 x 2cm), thin (0.15-0.20mm) biopsy of a patient’s own skin that is sufficient to cover an area up to 80 times the size of the biopsy. The ReCell suspension contains basal keratinocytes, melanocytes, fibroblasts and Langerhans cells. The metabolically responsive epithelial cells migrate across the wound surface, leading to regeneration of skin of normal color and texture. ReCell requires only a minimal donor site and is immediately available as a cell‐based spray at the patient’s bedside.
ReCell® is patented, CE-marked for Europe, TGA-registered in Australia, and SFDA-cleared in China. ReCell® is not available for sale in the United States; in the U.S. ReCell® is an investigational device limited by federal law to investigational use.
ABOUT AVITA MEDICAL LTD
Avita Medical (www.avitamedical.com) is a publicly listed medical technology company that develops and distributes regenerative and tissue-engineered products for the treatment of a broad range of wounds, scars and skin defects. Using patented and proprietary tissue-culture, collection and application technology, the company is able to provide innovative treatment solutions derived from a patient’s own skin. The company’s lead product, ReCell® Spray-On Skin, has been designed for use in a wide variety of burns, plastic, reconstructive and cosmetic procedures.
ABOUT THE MCCOMB FOUNDATION.
The McComb Foundation (www.mccomb.org.au) was established in 1999 by plastic and reconstructive surgeon Ms Fiona Wood (FRACS) and scientist Marie Stoner. The Foundation was named in honour of internationally-respected plastic and reconstructive surgeon Mr Harold McComb (FRACS). The aim of the Foundation is to advance the research and development of innovative tissue engineering technologies. To assist in the commercialisation of intellectual property developed by The McComb Foundation, a separate operational entity, Clinical Cell Culture Pty Ltd (C3) was established in 2000. This is now known as Avita Medical
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