Celularity and Verséa Ophthalmics Announce Exclusive U.S. Commercialization Agreement to Distribute Biovance® and Biovance® 3l Ocular For Ophthalmic Applications

Rhea-AI Summary

Celularity Inc. (Nasdaq: CELU) and Verséa Ophthalmics, LLC announced an exclusive U.S. commercialization agreement for the distribution of Celularity’s BIOVANCE® and BIOVANCE® 3L Ocular products, targeting ocular surface disease and ocular surgical applications. The global persistent corneal epithelial defect management market is currently valued at $8.5 billion, and is expected to grow at an 18 percent compound annual growth rate (CAGR) through 2033, reaching a valuation of $44.49 billion, according to Future Market Insights.

Positive

• Exclusive commercialization agreement with Verséa Ophthalmics opens significant opportunities in the U.S. for Celularity's innovative biomaterial technology targeting ocular surface diseases and surgical applications.
• The global market for persistent corneal epithelial defect management is expected to grow at an 18 percent CAGR through 2033, reaching a valuation of $44.49 billion, providing a substantial growth opportunity for the distributed products.

Negative

• None.

FLORHAM PARK, N.J. and TAMPA, Fla., July 27, 2023 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (“Celularity”), a biotechnology company developing placental-derived allogeneic cell therapies and biomaterial products, and Verséa Ophthalmics, LLC (“Verséa Ophthalmics”), a Tampa, FL-based company that focuses on providing complete ocular point-of-care diagnostic and therapeutic interventions, today announced that the companies have entered into an exclusive U.S. commercialization agreement in which Verséa Ophthalmics will distribute Celularity’s BIOVANCE^® and BIOVANCE^® 3L Ocular products to support the treatment of ocular surface disease and ocular surgical applications.

BIOVANCE^® and BIOVANCE^® 3L Ocular, which are single-layer and three-layer (3L) allografts, respectively, are intended for use as a biological membrane covering that provides an extracellular matrix. BIOVANCE^® 3L Ocular is acellular and consists of three layers of an amniotic membrane that supports treatment of advanced ocular surface disease. As a barrier membrane, BIOVANCE^® 3L Ocular is intended to protect the underlying tissue and preserve tissue plane boundaries. Applications include corneal and conjunctival-related injuries or defects such as corneal epithelial defects, pterygium repair, fornix reconstruction, and other procedures, all of which are significant opportunities, the companies believe.

The global persistent corneal epithelial defect management market is currently valued at
$8.5 billion, and is expected to grow at an 18 percent compound annual growth rate (CAGR) through 2033, reaching a valuation of $44.49 billion, according to Future Market Insights.

“We are excited to partner with Verséa Ophthalmics to distribute our BIOVANCE^® and BIOVANCE^® 3L Ocular products in the U.S.,” said Robert J. Hariri, M.D., Ph.D., Celularity’s CEO, Chairman and Founder. “Verséa Ophthalmics has the channel expertise in eye care necessary to reach physicians and to provide patients in need access to our innovative biomaterial technology.”

“As a corneal specialist by training, I have witnessed the transformative impact innovative tissue-based ocular therapeutic interventions can have for patients both in the clinic and surgically,” said Rob Sambursky, M.D., President, Verséa Ophthalmics. “Our commercialization agreement with Celularity allows us to offer a decellularized, ringless, advanced wound healing option to drive forward innovation for ocular surface diseases.”

Terms of the agreement are not disclosed.

About Verséa Ophthalmics, LLC

Verséa Ophthalmics, LLC is a division of Verséa Health, Inc., a diversified life-science company committed to delivering innovative, high-value diagnostic and therapeutic solutions to improve health care quality and access. It is specialized in the sale and distribution of innovative solutions for the diagnosis, treatment, and management of ocular surface diseases and surgical wound healing. To learn more, visit: www.versea.com/ophthalmics

About Celularity

Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a biotechnology company leading the next evolution in cellular and regenerative medicine by developing allogeneic cryopreserved off-the-shelf placental-derived cell therapies, including therapeutic programs using mesenchymal-like adherent stromal cells (MLASCs), T-cells engineered with CAR (CAR T-cells), and genetically modified and unmodified natural killer (NK) cells targeting indications in autoimmune, infectious and degenerative diseases, and cancer. Celularity also develops, manufactures and commercializes innovative biomaterial products also derived from the postpartum placenta. Celularity believes that by harnessing the placenta’s unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies.

To learn more, visit www.celularity.com

Celularity Media Contact:
Paul Graves, Chief Communications Officer
Celularity Inc.
paul.graves@celularity.com

Verséa Media Contact
Rahim K. Hirji, R. Ph.
Verséa Ophthalmics, LLC
rahim@versea.com

FAQ

What products are included in the exclusive U.S. commercialization agreement between Celularity and Verséa Ophthalmics?

The exclusive agreement covers the distribution of Celularity’s BIOVANCE® and BIOVANCE® 3L Ocular products, designed for ocular surface disease and ocular surgical applications.

What is the expected growth rate of the global persistent corneal epithelial defect management market through 2033?

The market is expected to grow at an 18 percent compound annual growth rate (CAGR) through 2033, reaching a valuation of $44.49 billion, according to Future Market Insights.

Who are the key executives involved in the partnership between Celularity and Verséa Ophthalmics?

Robert J. Hariri, M.D., Ph.D., Celularity’s CEO, Chairman and Founder, and Rob Sambursky, M.D., President, Verséa Ophthalmics, are key executives involved in the partnership.