BioStem Technologies Seeks to Expand Wound Care Portfolio with Letter of Intent to Acquire ProgenaCare Products
BioStem Technologies Inc. (BSEM), a leading MedTech company, announced today the signing of a Letter of Intent to acquire commercial-stage products and development technologies from ProgenaCare Global LLC. ProgenaCare is a medical device company specializing in innovative biomaterial-based solutions for advanced, cost-effective wound care. The acquisition includes ProgenaMatrix and revyve Antimicrobial Wound Gel, further demonstrating BioStem’s commitment to expanding its portfolio of complementary wound care products and maximizing the potential of its commercial infrastructure.
The agreement is expected to be finalized within 60 days upon due diligence. BioStem and ProgenaCare will work together to integrate ProgenaCare’s products into BioStem’s portfolio.
ProgenaCare brings an innovative approach to wound care by utilizing advanced biomaterial science to create effective solutions for various wound types, ranging from acute injuries to chronic conditions. Its proprietary human keratin technology enhances the body’s natural healing processes, positioning ProgenaMatrix as a standout product in the wound care industry. Additionally, revyve, a premium hydrogel, offers proven scientific efficacy in a user-friendly, thermo-reversible pluronic gel format, further solidifying ProgenaCare’s role as a leader in advanced wound care solutions.
Jason Matuszewski, CEO of BioStem, stated, “ProgenaCare represents a significant opportunity for us as part of our portfolio expansion initiatives. The products align perfectly with our goal to provide wound-care solutions across the entire continuum of care. The addition of ProgenaCare’s 510(k) cleared products will enhance our position in the hospital-based segments of the market, while ProgenaCare’s proprietary technology platforms and product pipeline offer significant opportunities for us to help drive future growth. With revyve, we could address wounds early in the treatment continuum, greatly broadening the patient population BioStem supports and offering multiple opportunities for channel expansion. We believe this acquisition will not only strengthen our existing commercial activities but also position ProgenaCare for accelerated growth and operational efficiency. This partnership will enable both of our organizations to unlock new potential, fostering talent and innovation to deliver meaningful wound care solutions.”
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