MIMEDX Announces Launch of HELIOGEN™ Fibrillar Collagen Matrix

Rhea-AI Summary

MIMEDX Group, Inc. (Nasdaq: MDXG) has announced the commercial launch of HELIOGEN™ Fibrillar Collagen Matrix, a particulate xenograft product designed for complex wounds in surgical settings. This shelf-stable offering contains Type I and Type III collagen, mimicking the native composition of structural connective tissue. HELIOGEN marks MIMEDX's first xenograft option and 510(k) cleared product, complementing their existing placental-based solutions in the surgical market.

CEO Joseph H. Capper stated that this launch aligns with the company's strategic initiative to expand its surgical footprint, following the introduction of two new surgical products in late 2022. Eric Smith, SVP of Marketing & International, highlighted HELIOGEN's potential to improve patient outcomes in various surgical settings, backed by initial case studies and real-world evidence.

Positive

• Launch of HELIOGEN™ Fibrillar Collagen Matrix, expanding product portfolio
• First xenograft and 510(k) cleared product for the company
• Aligns with strategic initiative to expand surgical market presence
• Backed by initial case studies and real-world evidence

Negative

• None.

News Market Reaction – MDXG

-10.34%

-10.34% Session move

In the trading session that priced this news, MDXG declined 10.34%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Limited market release marks first xenograft addition to Company’s portfolio of leading Wound and Surgical products

MARIETTA, Ga., July 31, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”) today announced the commercial launch of HELIOGEN™ Fibrillar Collagen Matrix, a particulate xenograft product aimed at addressing complex wounds primarily in the surgical setting. HELIOGEN is a shelf-stable offering that contains Type I and Type III collagen and mimics the native composition of structural connective tissue.

“We are pleased to introduce our first xenograft option and 510(k) cleared product to complement our leading placental-based solutions in the surgical market,” stated Joseph H. Capper, MIMEDX Chief Executive Officer. “As we have been messaging, one of our strategic initiatives is the continued expansion of our surgical footprint, following the successful introduction of two new products designed for this care setting at the end of 2022. This initial market release of HELIOGEN represents another important step in pursuit of this objective.”

Eric Smith, MIMEDX Senior Vice President, Marketing & International, added, “HELIOGEN—named for the product’s triple helical collagen structure—is an exciting addition to our portfolio and provides another tool to help our customers manage complex wounds. With a solid foundation of initial case studies and real-world evidence, we are excited for customers in various surgical settings to build on this evidence and realize improved outcomes for their patients.”

About HELIOGEN
HELIOGEN is a 510(k) cleared, bovine-derived collagen matrix product indicated for the management of moderately to heavily exudating wounds and to control minor bleeding. The collagen in this product serves as a dressing that allows for cell adhesion and migration into the wound site and supports wound healing. It is provided in particulate form allowing it to be molded or packed to conform to various wound types such as pressure ulcers, venous stasis ulcers, diabetic ulcers, acute wounds, for example trauma and surgical wounds, and partial-thickness burns. To learn more about HELIOGEN, please visit: www.mimedx.com/heliogen/

About MIMEDX
MIMEDX is a pioneer and leader focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX is dedicated to providing a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company’s vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. For additional information, please visit www.mimedx.com.

Contact:
Matt Notarianni
Investor Relations
470-304-7291
mnotarianni@mimedx.com

FAQ

What is HELIOGEN™ Fibrillar Collagen Matrix and how does it relate to MIMEDX (MDXG)?

HELIOGEN™ Fibrillar Collagen Matrix is a new particulate xenograft product launched by MIMEDX (MDXG). It's designed for complex wounds in surgical settings and contains Type I and Type III collagen, mimicking the structure of connective tissue.

How does the HELIOGEN launch align with MIMEDX's (MDXG) strategic goals?

The launch of HELIOGEN aligns with MIMEDX's strategic initiative to expand its surgical footprint. It's the company's first xenograft option and 510(k) cleared product, complementing their existing placental-based solutions in the surgical market.

What evidence supports the efficacy of MIMEDX's (MDXG) new HELIOGEN product?

MIMEDX reports that HELIOGEN is backed by initial case studies and real-world evidence. The company expects customers in various surgical settings to build on this evidence and potentially realize improved outcomes for their patients.

When did MIMEDX (MDXG) introduce other new surgical products prior to HELIOGEN?

According to the press release, MIMEDX introduced two new products designed for the surgical care setting at the end of 2022, preceding the launch of HELIOGEN in July 2024.