*NEWS: Innovative MedTech Company Gets Investment
An innovative med-tech company announced today it’s secured over $1 million in equity and finalized its acquisition of a “breakthrough” stem cell therapy technology.
Clyra Medical Technologies said today in a press release that it’s acquired the “SkinDisc” stem cell therapy developed by Scion Solutions. Clyra is a subsidiary of BioLargo with HQ in Westminster. (See related story about BioLargo here).
BioLargo’s CEO Dennis Calvert said the acquisition is significant because a report written by an independent evaluator suggests that the combined value of Clyra and Scion would be approximately $33 million following this transaction.
The two technical platforms – Clyra antimicrobial products and the SkinDisc therapy – represent a “substantial” foundation upon which to build an internationally competitive wound care company, Calvert added.
The stem cell therapy uses a homogenous cocktail to generate a cell-rich bio gel that supports the healing of chronic wounds. The product has been used clinically in over 250 patient cases with no adverse side effects and helped save limbs that otherwise may have led to amputation and costly treatments, according to the release.
Clyra has also engaged Scion’s founders to support its commercial strategy, including Brock Liden, a renowned wound specialist and expert in diabetic limb salvage, and Spencer Brown, a medical device industry veteran with more than 35 years of experience working in medical sales, account management and distribution in the medical device industry.