While announcing that it has acquired orthopaedic technologies from RCSI, Locate Bio also revealed that it is seeking to establish a corporate presence in Ireland to take advantage of further opportunities in the orthobiologics sector.
On Monday (21 September), orthobiologics-focused regenerative medicine company Locate Bio announced that it has acquired multiple late-stage orthobiologics assets from the Royal College of Surgeons Ireland (RCSI).
Orthobiologics are biological substances that are used to help musculoskeletal injuries heal quicker. The technologies developed by the RCSI tissue engineering research group have extensive pre-clinical and human data, which demonstrates their effectiveness in treatment of both hard and soft tissues.
In a statement, Nottingham-based Locate Bio said that the RCSI licensing deal includes best-in-class, proprietary, natural collagen-based delivery technologies, which have been developed into products for the regeneration of bone, the treatment of infection and the regeneration of cartilage tissues.
Expanding its orthobiologics portfolio
Locate Bio said that its ambition is to build a diversified orthobiologics company with a suite of best-in-class technologies that address the performance limitations of existing products and enable orthopaedic surgeons to improve the lives of patients.
“The bone grafting market is ripe for disruption as surgeons are forced to compromise between fusion rates, side effects, convenience and affordability. Locate Bio’s proprietary, regenerative medicine technology pipeline is delivering exciting orthobiologics products.”
The company also said that the acquisition of assets from RCSI will provide “additional depth and breadth” to its current orthobiologics portfolio and accelerate its route to market. Locate Bio is currently looking for additional, complementary acquisition or in-licensing opportunities to further broaden its portfolio.
The company said that it is seeking to establish a corporate presence in Ireland to take advantage of further opportunities in the orthobiologics sector.
Prof Fergal O’Brien, head of the RCSI tissue engineering research group and director of research and innovation at RCSI said: “We are very pleased to be partnering with Locate Bio in this licensing deal. It is a clear validation of the excellent work being done within RCSI that we can attract businesses like Locate Bio to take these products developed in our tissue engineering research group and AMBER, the SFI Centre for Advanced Materials and Bioengineering Research into international markets.”
O’Brien said that the partnership between RCSI and Locate Bio could unlock the potential of the orthobiologics technology to improve treatments and quality of life for patients with orthopaedic conditions.