Miromatrix Receives New Patent for Its Novel Perfusion Decellularization and Recellularization Technology
Miromatrix Medical (NASDAQ: MIRO) received a new patent for its perfusion decellularization and recellularization technology, titled U.S. Patent Number 11,414,644. This patent enhances their existing portfolio, covering methods for revascularizing decellularized organs such as the liver, lung, kidney, and heart. CEO Jeff Ross highlights the significance of this technology in addressing the global organ transplantation crisis. The company boasts 119 issued and 34 pending patents globally, focusing on bioengineering transplantable organs, particularly livers and kidneys.
- Newly awarded U.S. Patent Number 11,414,644 enhances Miromatrix's intellectual property portfolio.
- Patented technology focuses on revascularizing decellularized organs, addressing a significant medical need.
- Company holds a total of 119 issued and 34 pending patents, indicating strong innovation capabilities in bioengineering.
- Continued history of significant financial losses, expected to persist.
- Regulatory approval risks for product candidates could delay market entry.
- Dependence on successful commercialization amidst competition from larger firms.
EDEN PRAIRIE, Minn., Aug. 25, 2022 (GLOBE NEWSWIRE) -- Miromatrix Medical Inc. (NASDAQ: MIRO), a life sciences company pioneering a novel technology for bioengineering fully transplantable organs to help save and improve patients' lives, has received a new patent from the United States Patent and Trademark Office for its perfusion decellularization and recellularization technology. This new patent further expands the Company's extensive patent portfolio covering the bioengineering of transplantable organs.
U.S. Patent Number 11,414,644 is entitled "Methods of Recellularizing a Tissue or Organ for Improved Transplantability." This patent covers the revascularization of decellularized organs and tissues that encompasses all types of organs including liver, lung, kidney, and heart.
"Organ transplantation is one of the largest unmet medical needs facing the world today," says Miromatrix CEO Jeff Ross, Ph.D. "This important patent demonstrates our ability to revascularize decellularized organs and furthers our commitment to bioengineering completely functional, transplantable organs to solve this major health crisis."
Miromatrix's perfusion decellularization and recellularization technology platform includes 119 issued and 34 pending patent applications, with protection in the United States and major markets worldwide.
About Miromatrix
Miromatrix Medical Inc. is a life sciences company pioneering a novel technology for bioengineering fully transplantable human organs to help save and improve patients' lives. The Company has developed a proprietary perfusion technology platform for bioengineering organs that it believes will efficiently scale to address the shortage of available human organs. The Company's initial development focus is on human livers and kidneys. For more information, visit miromatrix.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including statements regarding our first ever transplant of a bioengineered liver transplant into a large animal. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "outlook," "guidance," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.
The forward-looking statements in this press release are only predictions and are based largely on our current business plans, expectations, and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, our history of significant losses, which we expect to continue; our limited history operating as a commercial company; our expectations with respect to the regulatory pathway of our product candidates, our ability to obtain regulatory approvals for such product candidates, and the anticipated effect of delays in obtaining any such regulatory approvals; our expectations with respect to preclinical and clinical trial plans for our product candidates, the results of such activities and the safety and efficacy of our product candidates; our ability to commercialize our product candidates; our ability to compete successfully with larger competitors in our highly competitive industry; our ability to achieve and maintain adequate levels of coverage or reimbursement for any future products we may seek to commercialize; our expectations regarding our manufacturing capabilities; a pandemic, epidemic or outbreak of an infectious disease in the U.S. or worldwide, including the outbreak of the novel strain of coronavirus, COVID-19; product liability claims; our ability to establish and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing the intellectual property rights of others; our ability to attract and retain senior management and key scientific personnel; and other important factors that could cause actual results, performance or achievements to differ materially from those expected or projected. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of the Company's 10-K filed with the U.S. Securities and Exchange Commission and any additional risks presented in our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Investor Contact
Greg Chodaczek
347-620-7010
ir@miromatrix.com
Media Contact
Christina Campbell
612-924-3793
christina@media-minefield.com
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