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Alafair Biosciences Announces VersaWrap® Tendon Protector Sales Milestone
AUSTIN, Texas, May 23, 2019 /PRNewswire/ -- Alafair Biosciences, Inc., a commercial-stage medical device company, announced that sales of its initial product, VersaWrap® Tendon Protector (VersaWrap), have now exceeded 500 units since commercial launch. The rapid sales growth reflects expanding surgeon adoption and the significant clinical need for VersaWrap. VersaWrap is an ultrathin, sutureless, bioresorbable hydrogel implant ideally suited for covering and protecting tendons. Specifically, by forming a permeable, gelatinous layer around the tendon, VersaWrap facilitates improved tendon gliding during healing. This layer reduces surface-to-surface friction and, as such, can aid in the reduction of inflammation typically observed in patients postoperatively.
"I am observing markedly improved outcomes with VersaWrap patients. From greater range of motion to reduced swelling to faster return to life, my VersaWrap patients are recovering better than I typically observe at timepoints as early as 9 days," stated Dr. Brent Egeland, MD, a plastic surgeon in Austin, TX.
"VersaWrap patients that we've been following for 18 months are seeing sustained strength and improved mobility following traumatic injury. These are debilitating injuries often coupled with the need for additional procedures. VersaWrap is making a life-changing difference for these patients."
The commercial success of VersaWrap, coupled with the recent completion of the Company's Series B capital raise, provides the opportunity for Alafair to expand its marketing and sales initiatives for VersaWrap, as well as pursue additional pipeline development programs. "Our focus is on developing novel solutions to improve patient outcomes using our patented hydrogel technology," said Greg Brophy, Chief Executive Officer of Alafair. "We are very pleased with the response from surgeons introduced to VersaWrap and believe that we have a significant opportunity to both expand the number of clinical procedures in which VersaWrap is being used and expand the number of products derived from our patented hydrogel technology."
VersaWrap Tendon Protector, the first product in the VersaWrap family of products to receive FDA clearance, is indicated for the management and protection of tendon injuries in which there has been no substantial loss of tendon tissue. Launched in December 2017, VersaWrap has experienced rapid market adoption in a diverse number of clinical procedures. Alafair anticipates a second 510(k) filing this year as it seeks to expand the clinical applications for the use of its hydrogel technology.
About Alafair Biosciences, Inc.
Alafair Biosciences is a privately-held, commercial-stage medical device company focused on the development of novel clinical products using its patented hydrogel technology. With a portfolio of 15 issued and 13 pending patents covering a broad range of clinical applications, Alafair is focused on building a robust product pipeline based on its proprietary technology. Its products are distributed through a dispersed network of independent distributors across the United States.
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SOURCE Alafair Biosciences, Inc.