Philosys Healthcare Secures Exclusive Asian Distribution Rights for Bone Graft Treatment from US MMI

[Asia Economy Reporter Eunmo Koo] Philosis Healthcare is accelerating its entry into 3D tissue engineering by partnering with a U.S. bio venture company.

Philosis Healthcare's subsidiary, Philosis Pharma, announced on the 31st that it has secured exclusive sales rights for the Asian market for a next-generation bone graft treatment developed by the U.S. bio venture company Molecular Matrix (MMI).

A company official stated, "Based on the memorandum of understanding (MOU) signed with MMI last August, we have obtained exclusive sales rights for the Asian market," adding, "We are currently awaiting approval before actively marketing in key Asian countries such as Japan and China."

MMI is a bio venture company that started as a startup at UC Davis in the United States. After more than 10 years of research and development, it developed a scaffold structure for organoids (bone replicas produced outside the body). Unlike existing protein-based scaffolds, it uses carbohydrates, making it non-toxic, biodegradable, and hard enough to withstand heat and pressure. This product was created based on patented technology for biocompatible cross-linked carbohydrate complexes (HCCP).

The first product applying MMI's HCCP technology, Osteo-PTM BGS (Bone Graft Substitute), is elastic, making it easy to use during surgery and allowing suturing with surrounding tissues. Another advantage is the ability to monitor bone tissue regeneration in real time.

The local medical industry is also paying attention. MD Greg Anderson, president of the American Spine Society at the Rothman Institute, and MD Kee Kim, chief of neurosurgery at Davis University Hospital, participated in clinical stages and are preparing to publish papers based on the data.

Furthermore, MMI's first product, Osteo-PTM, when used alone, has proven effects equal to or greater than autologous bone grafts, where the patient's osteoblasts migrate to the damaged bone defect area and heal the bone themselves. Accordingly, it received approval from the U.S. Food and Drug Administration (FDA) in December 2017 and has been sold to hospitals across the United States since early last year.

Charles Lee, CEO of MMI, said, "During clinical trials for FDA approval, the product showed superior effects compared to bone graft substitutes used alone and autologous bone," adding, "Since each hospital requires an evaluation committee for product sales, revenue is still modest, but we expect performance growth aiming to lead the market starting this year."

Choi Inhwan, CEO of Philosis Healthcare, said, "MMI's products can pioneer markets not only in orthopedics but also in dental and veterinary fields," and added, "We expect MMI's products, along with Philosis Healthcare's hemostatic agents and artificial joint items, to grow into core business areas of Philosis."

This content was produced with the assistance of AI translation services.