Biocomposites invests in Renovos Biologics – developers of the RENOVITE® nanoclay therapeutic delivery platform
RENOVITE ® nanoclay is a novel therapeutic delivery platform for precision regenerative medicine
Investment will help fund pre-market approval for use in spine, trauma and orthopaedics
Biocomposites, CEO, Michael Harris will join Renovos Biologics Board of Directors
Keele, UK, 5 July 2023 – Biocomposites, an international medical devices company that engineers, manufactures and markets world leading products for regenerating bone and managing infection in bone and soft tissue, today announces it has taken a minority-share interest in Renovos Biologics (Renovos), an innovative biologics company born out of research into the properties of nanoclay at the University of Southampton, UK. Michael Harris, CEO, Biocomposites will join Renovos Biologics Board of Directors.
Renovos’ lead product RENOVITE® is a synthetic, biodegradable nanoclay carrier that can be used to place a wide range of pharmaceutical drugs and biologics at the site of treatment. It can be injected through a 23-gauge cannula in support of minimally-invasive procedures and sets into a stiff gel upon contact with physiological fluids, such as blood serum. As a cell-responsive carrier it requires a lower dose of therapeutic drug to accelerate healing.
The investment from Biocomposites will allow Renovos to access Biocomposites’ expertise and know-how in the development of drug carriers to progress RENOVITE® to pre-market approval as a carrier for use in spine, trauma and orthopaedics. And in due course, provide Renovos access to Biocomposites’ established, global distribution network.
Michael Harris, Chief Executive Officer of Biocomposites, commented: “The potential for RENOVITE® as a next generation drug carrier that can enhance the activity of therapeutic drugs at lower doses, whilst giving the surgeon much greater freedom to use in minimally invasive procedures, is very exciting. Following on from our recent acquisition of Artoss in June this year, and Subiton and Synimed last year, Biocomposites has established itself as the go-to provider for surgeons requiring bone regeneration and/or managing infection in bone and soft tissue.”
Dr Agnieszka Janeczek, Chief Executive Officer of Renovos Biologics added: “We have long believed in the potential of RENOVITE® to overcome the challenges in tissue regeneration by providing unprecedented retention of therapeutics at the site of repair. With the opportunity to partner with Biocomposites, Renovos now have access to their deep knowledge and expertise in drug developments, as well as their global distribution network as products come to market.”
