Grander Acquisition, led by Michael Brauser, has completed the acquisition of assets from RegenETP, formerly known as PolarityTE. The acquired assets include regenerative tissue product SkinTE and its investigational new drug application with the FDA. Grander Acquisition plans to continue pivotal studies on SkinTE for chronic cutaneous ulcers and provide necessary resources for its market launch. John Stetson becomes CEO, Dr. Nikolai Sopko becomes CSO and COO, and Dr. Edward W. Swanson becomes President and CMO. The company will operate privately as PolarityTE.
Grander Acquisition LLC (the “Company”), an entity led by Michael Brauser, announced the Company has closed on its acquisition of substantially all of the assets of RegenETP, Inc. (formerly known as PolarityTE, Inc.), a biotechnology company that had been developing regenerative tissue products.
The acquired assets include PolarityTE’s first regenerative tissue product called SkinTE® and the open investigational new drug application (IND) for SkinTE® with the U.S. Food and Drug Administration (FDA).
The Company is now continuing to pursue the first of two pivotal studies on SkinTE® needed to support a biologics license application (BLA) for a chronic cutaneous ulcer indication and will provide sufficient capital to continue pursuing both pivotal studies on SkinTE®.
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“We are thrilled to acquire the PolarityTE assets. SkinTE® is a very promising regenerative medicine technology which we believe will be revolutionary to the chronic wound space. Our strong leadership is committed to providing the necessary resources to bring SkinTE® to market,” said Michael Brauser, Chairman.
At closing, the Company named John Stetson as its Chief Executive Officer, Dr. Nikolai Sopko, formerly the Chief Scientific Officer of PolarityTE, as Chief Scientific Officer and Chief Operating Officer, and Dr. Edward W. Swanson, a co-founder of PolarityTE, as President and Chief Medical Officer.
The Company intends to continue to operate as a private company under the name PolarityTE.
Source: BioSpace
