Biological Wound Care - BRAIN AG announces the creation of SolasCure Ltd. to continue development of Aurase(R)
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG / Key word(s): Strategic Company Decision
Biological Wound Care
Investors including BRAIN participated in SolasCure's successful Series A financing round. BRAIN has licensed IP for the commercialization of future Aurase(R)-based products and will supply the novel enzymatic ingredient.
SolasCure has been co-founded by Dr Sam Bakri, a serial healthcare entrepreneur who has been appointed as Executive Chairman. Professor Keith Harding (CBE), founder of the Welsh Wound Innovation Centre and expert in wound bed preparation has been appointed Chairman of the Medical Advisory Board.
Commenting on SolasCure's potential, Co-founder and Executive Chairman Sam Bakri said: "Aurase(R) is an extraordinary innovation with great potential impact for healthcare. SolasCure is focused on the continued development of Aurase(R) so we can offer the many patients suffering from chronic wounds a treatment. We have brought together a team experienced in the development of medical devices for wound healing, under the professional guidance of Professor Keith Harding".
The spin-off of the Aurase(R) development programme into SolasCure Ltd. is part of BRAIN's strategy to strengthen its business growth. Following the founding of U.S. based BRAIN LLC. in February 2018, the acquisition of a majority stake of UK based Biocatalysts Ltd. in March 2018 and the announcement of the strategic partnership with the German Evonik subsidiary CyPlus GmbH of June 2018, this is another step to strengthen the industrial business of BRAIN Group.
Frank Goebel, CFO of BRAIN AG and member of the Board of Directors of SolasCure emphasizes: "With BRAIN's technological know-how, Aurase(R) development has already made significant progress. In order to accelerate the development and bring together the relevant regulatory and market expertise, we decided to spin off the business into a separate company, supported by additional investors and expertise. The SolasCure team is confident that it will be able to achieve first product launches of Aurase(R)-containing medical devices as early as 2021, thus accelerating the business development of BRAIN AG."
Aurase(R) is protected by an extensive patent estate (WO 2010/099955). The basis of Aurase(R) is a protein-degrading enzyme developed from natural resources. Researchers at BRAIN identified that the maggot of the green bottle fly (also called "gold-fly") secretes an enzyme that dissolves necrotic tissue. This protease has been isolated and cloned from medical maggots enabling it to be produced in a GMP biotechnological process under the direction of BRAIN AG. This product will be supplied to SolasCure for further integration into medical devices.
The medical use of Aurase(R) should lead to faster wound cleaning - promoting better patient outcomes and reducing healthcare costs. According to Global Industry Analysts Inc., approximately 40.5 million patients worldwide suffered from chronic wounds in 2015, including cases of diabetic foot, pressure sores and other chronic wounds such as Ulcus curis. Physicians expect this number to increase in the coming years due to an increase in type 2 diabetes and an aging patient population. According to a 2017 study by Markets and Markets, the global wound treatment market is estimated at USD 22 billion. The annual growth rate is estimated at 3.7% between 2017 and 2022.
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Dr. Martin Langer
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Cefn Coed Unit 1, Cefn Coed, Nantgarw, Cardiff,
Wales, CF15 7QQ
B.R.A.I.N. Biotechnology Research and Information Network AG (BRAIN AG; ISIN DE0005203947 / WKN 520394) is one of Europe's leading technology companies in the field of industrial biotechnology, the core discipline of Bioeconomy. As such, BRAIN identifies previously untapped, efficient enzymes, microbial producer organisms or natural substances from complex biological systems that can be put to industrial use. The innovative solutions and products developed by help of this "Toolbox of Nature" are successfully applied in the chemistry, the cosmetics and the food industries. BRAIN's business model is based on two pillars - BioScience and BioIndustrial. The BioScience segment comprises its frequently exclusive collaboration business with industrial partners. BioIndustrial comprises the development and commercialization of BRAIN's own products and active product components. Further information is available at www.brain-biotech.de/en.
SolasCure Limited (Company Nº 10826246) aims to support healthcare professionals with wound care products that significantly improve the health and wellbeing of patients with chronic wounds. Chronic wounds impact over 40 million people worldwide, with care consuming around 10% of health care expenditure in many countries; while spending on advanced wound care products is over £5 billion each year. These figures continue to grow as prevalence of obesity and diabetes increases. SolasCure's first product, Aurase(R) is a hydrogel containing a safe, active, highly-specific enzyme, isolated and cloned from medical maggots. The medical use of Aurase(R) should lead to faster wound cleaning - promoting better patient outcomes and reduced healthcare costs. Further information is available at www.solascure.com.
This press release contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the management of BRAIN AG and are based on information currently available to the management. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. There are numerous factors which could influence the future performance by and future developments at BRAIN AG and the BRAIN group of companies. Such factors include, but are not limited to, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. BRAIN AG does not undertake any obligation to update or revise any forward-looking statements.
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