Avita (ASX:AVH) has announced its development of a ‘dermal matrix’ – in other words, a kind of next-gen gauze made of a material closer to skin than cotton.
The product’s development is being collaborated on with another entity called Regenity Biosciences – that party has awarded Avita commercialisation rights to the tech.
The development is ratified by an agreement inked by both parties on Thursday following 501(k) clearance from the FDA, “a premarket submission made to FDA to demonstrate that the device to be marketed is … safe and effective.”
The ‘dermal matrix’ – matrix in the mathematical sense regarding an array of rows and columns under which all textiles can be described – is made with collagen, making it an advancement in gauze technology.
The product is ultimately placed into the site of skin-disrupting wounds (namely burns) which then helps skin cells grow at a faster rate and, ideally, with less cosmetic damage post-heal.
“This strategic collaboration significantly strengthens our portfolio and advances our long-term growth objectives,” AVITA CEO Jim Corbett said.
“Regenity’s proven expertise in developing and manufacturing bioresorbable materials aligns with our vision.”
AVH last traded at $3.02.