VIDEO – $CHGX $3.5M Grant Is Largest Ever For Tech To Repair ACL, Rotator Cuff And Other Soft Tissue Tears.
posted on Mar 01, 2023 12:42PM
Chitogenx is in the regulatory lead for regenerative products + signs MOU with major Medical Institute
With the Super Bowl having just finished and the playoff runs for the NHL and NBA just around the corner, injuries related to our favourite players … and how fast they can recover … start to count more than ever for sports fans around the world.
Specifically, has one of our favourite athletes torn their ACL? Rotator Cuff? Meniscus? How about someone you know … or even yourself?
Here’s a look at some NFL players that went down with torn ACLs this year
We wouldn’t blame you if you thought the care and repair of these kinds of injuries is standard and highly successful …. but you would be wrong. There is a MASSIVE problem with surgery failure rates for each of these as follows:
Chitogenx uses its proprietary RESTORE technology platform to dramatically improve the success rate of orthopedic and sports medicine surgeries.
In layman’s terms the company has developed a platform that delivers biologics – drugs made from biological processes – to repair soft tissues in the human body.
$3.5 MILLION GRANT TO $CHGX IS THE LARGEST EVER AND GREAT 3RD PARTY VALIDATION
$CHGX is well into clinical trials and, as a result, is considered to be “in the regulatory lead for regenerative products” . To this end, the Company just announced $3.5 million grant to advance commercial development of its solution, the highlights of which are as follows:
CEO Philippe Deschamps stated:
"We are honored to receive funds from such prestigious organisations to accelerate the development of our proprietary technology platform. Regenerative medicine is a fast-growing sector, and these funds will help us position ChitogenX at the forefront of this dynamic sector." We look forward to our continued strong collaboration with Polytechnique Montréal and advancing scientific innovations for the greater good"
JUST HOW BIG ARE THESE MARKETS?
Rotator Cuff TEAR – $600M
• 4m patients + 600,000 annual surgeries in the U.S. alone
Meniscus Tear Repair – $1B
• There are 700k surgeries annually in U.S. alone
Cartilage Lesions Repair - $1B
• 120,000 surgeries and a lack of options
$CHGX received positive results from a study that looked at the effectiveness of a type of implant made from $CHGX platform [for the medical science crowd … chitosan and platelet-rich plasma (PRP)] in treating injuries to the meniscus, which is a piece of cartilage in the knee joint.
The study found that the implants remained in place for more than 24 hours after surgery and helped to recruit other cells to the area to aid in healing. This is a very promising development for using this type of implant to treat soft tissue injuries in orthopedic medicine. The research was funded through grants.
CEO Deschamps added:
"These results continue to support our contention that ORTHO-R, the Company's lead clinical candidate Chitosan/PRP drug combination, represents an ideal regenerative medicine delivery mechanism for biologic substances. We look forward to reporting the full results of this study over the coming months"
Now sit back, relax and watch this powerful interview.