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PolyNovo (ASX:PNV) - CEO, Paul Brennan - The Market Herald
CEO, Paul Brennan
Source: The Australian Business Executive
  • Healthcare giant PolyNovo (PNV) has selected Innova Medical Oy to distribute its clinical wound treatment in Finland
  • Founded back in 2007 and headquartered in Helsinki, Innova distributes a wide range of surgical products
  • It also supplies wound and second-degree burn treatments, making it a perfect match for PloyNovo's regenerative technology
  • PolyNovo's surgical-grade treatment, officially known as NovoSorb BTM, is a matrix which can be placed over a wound to support healing
  • Looking ahead, PolyNovo said it's gearing up to announce more distribution breakthroughs across European markets in the near future
  • Following the news, the ASX 200-lister tacked on an extra 2.74 per cent, with shares closing at $2.25

Healthcare giant PolyNovo (PNV) has selected Innova Medical Oy to distribute its clinical wound treatment in Finland.

Founded back in 2007 and headquartered in Helsinki, Innova distributes a wide range of surgical products. It also supplies wound and second-degree burn treatments, making it a perfect match for PloyNovo's regenerative technology.

Significantly, the Innova appointment means the billion-dollar healthcare stock is one step closer to securing product sales in the Finnish market.

PolyNovo's surgical-grade treatment, officially known as NovoSorb BTM, is a matrix which can be placed over a wound to support healing.

It's based on the company's proprietary NovoSorb technology — the matrix is made of biocompatible polymers, which help the body heal the wound before breaking down into absorbable by-products.

So far, the NovoSorb product has been used in four surgeries. To date, three surgeons have applied the treatment to a chronic leg stump wound, burns and scar revision. Positively, PolyNovo said surgeons have reached the 'skin graft closure stage' during two of these procedures, and that there have been excellent results so far.

Speaking to today's announcement, PolyNovo Managing Director Paul Brennan said the company had been working alongside the Innova team for some time.

"The evaluation surgeries were completed with donated product, however, we expect sales to commence shortly," he commented.

Looking ahead, PolyNovo said it's gearing up to announce more distribution breakthroughs across European markets in the near future.

Following the news, the ASX 200-lister tacked on an extra 2.74 per cent, with shares closing at $2.25.


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