Wound Management Technologies, Inc., (OTC Bulletin Board: WNDM) through its subsidiary, Wound Care Innovations, announced today that it has reached an agreement with Biocure S.r.l. of Milan, Italy for the distribution of WNDM's patented molecular form of activated collagen, CellerateRx®.
CellerateRx is cleared by the FDA as a medical device for use on all acute and chronic wounds except for 3rd degree burns and is made in the USA. In the US alone, approximately 85% of lower extremity amputations are preceded by chronic diabetic foot wounds which lead to over 82,000 amputations annually with direct and indirect costs in the range of $2,500,000,000 to $4,920,000,000. CellerateRx targets a multi-billion dollar domestic and international wound care market with over 60% profit margins. By 2025 the Global Diabetic Market alone that potentially would be a candidate for CellerateRx is forecast to be in excess of 48,000,000 patients.
"Providing CellerateRx to the European Union through Biocure as part of our penetration of the multi-billion dollar international wound care market is an important part of WNDM's strategy. We continue to build alliances with reputable distribution networks for our advanced biotechnology and biopharmaceutical products," said Cathy Bradshaw, President of Wound Care Innovations.
Giovanni Pinamonti, President of Biocure said, "Our market feedback shows an initial target diabetic customer base in our network of over 1.5 million patients in England, Italy, France, Germany and Spain alone, without factoring in the request for burn treatment which has been very strong. CellerateRx will be an important addition in our ability to provide valuable healthcare products to the Italian market, and intend to pursue a greater European marketing program capitalizing on the strength of our network."
WMI and Biocure S.r.l. would like to take this opportunity to thank Leonardo Zangani, President of Zangani Investor Community, for all of his assistance in the course of the transaction.
In a related announcement, WNDM said it expects to shortly release preliminary details of the company's plans to leverage its existing technology and infrastructure to develop opportunities within the International Biotechnology, Genetic Engineering and Cancer Treatment markets to enhance shareholder value.
Wound Management Technologies, Inc.