To explain chronic wounds, the easiest example would be something like an ulcer that just won’t heal, or comes back far sooner than you had hoped. But in reality, the majority of sufferers deal with something far worse, even finding themselves completely debilitated and eternally frustrated as the wound refuses to heal, costing the healthcare system billions and can often be as costly for patients as treating cancer.
Biopharmaceutical company Tissue Repair (ASX: TRP) is eyeing a way to service the under-treated industry, having been granted their second US patent for the broad use of its unique immunogenic active ingredient – Glucoprime, which can now be used on any skin condition, including burns, chronic wounds, surgical wound, and more.
The patent is a major step forward for the Company’s leading drug candidate TR-987® which is focused on treating venous leg ulcers, an area of treatment which has not seen a drug approved for over 25 years.
If trials are successful, Tissue Repair will be well positioned to treat a significant portion of the large and growing market which unfortunately for sufferers, can be as costly as cancer treatment.
TR-987® is applied in gel form, utilising the company’s Glucoprime ingredient to activate the body’s own immune response by creating a ‘skeleton’ of a yeast cell that is used as a decoy to attract white blood cells to the wound site in order to accelerate healing.
The drug is just one of many possible applications of Glucoprime, though the Company is currently aiming to focus on chronic wounds as their niche. Which in the US alone is estimated to cost their healthcare system up to US$50 billion per year.
However, more relative to TR is the US$1.5 billion active wound care products market for which their drug candidates will eventually fall under. The Company also has its eyes set on the aftercare market for minimally invasive cosmetic procedures, with its soon to be commercialised gel product, TR Pro+TM.
“The patent is significant as it provides broad protection for the use of our proprietary Glucoprime® technology across its current dual focus of Chronic wounds and post procedure cosmetic healing, as well as extending protection into any topically applied skin condition, such as pressure ulcers, diabetic foot ulcers, surgical wounds and burns.” Said Tissue Repair Co-Founder, Tony Charara.
Tissue Repair has not been on the ASX boards for long, the Company completing a successful IPO listing in November 2021, raising $22m at $1.15 per share. Unfortunately for those that jumped in on the IPO have not seen the Company trade close to its issue price, with an all time high at $0.83 and currently trading at just $0.33.
Conor Murphy is the Marketing Coordinator at TradersCircle
Latest posts by Conor Murphy (see all)
- Trading the ASX – Get your head around economic data releases - September 5, 2024
- Cost cutting is all the rage right now - September 5, 2024
- Novatti’s strategic moves pave the way for positive cash flow amidst $4m in cost reductions - January 31, 2024
Leave a Comment
You must be logged in to post a comment.