Avita, Regenity enter development agreement for wound care product
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Key takeaways:
- Regenity will cover manufacturing and Avita will lead marketing and distribution.
- The product generates a dermal-like tissue through rapid cell repopulation and revascularization of the dermal collagen matrix.
Avita Medical Inc. has entered into an agreement with Regenity Biosciences to develop and distribute its collagen-based dermal matrix for wound healing, the company announced in a press release.
Through this exclusive, multi-year agreement and pending 510(k) clearance by the FDA, Regenity will continue to manufacture its product, whereas Avita will hold all marketing, sales and distribution rights.
Using rapid cell repopulation and revascularization of the dermal collagen matrix along with Avita’s RECELL technology, the product creates a dermal-like tissue in full-thickness wounds, according to the release. It will be used in thermal burn wounds and full-thickness skin defects.
“This strategic collaboration significantly strengthens our portfolio and advances our long-term growth objectives,” Jim Corbett, CEO of Avita Medical, said. “Regenity’s proven expertise in developing and manufacturing bioresorbable materials aligns with our vision. By integrating their innovative collagen-based solutions with our existing RECELL technology, we believe we also have the potential to establish a new standard of care with a one-stage closure, thereby improving patient outcomes.”
Avita will pay $2 million upon the FDA’s clearance and an additional $3 million payment by Jan. 4, 2026. The agreement has a 5-year initial term and the first 2 years of revenue sharing from sales is expected to equal 50% of its average sales price. In the following years, Avita’s share is to increase to 60% of the average sales price.
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