Wound Management Technologies acquires BioPharma

Sep 18 2009

Wound Management Technologies, Inc., (OTC Bulletin Board: WNDM) a rapidly growing provider of specialty medical products, announced today that it has completed the acquisition of BioPharma Management Technologies, Inc., a privately held biotechnology company with a platform of proprietary and patented technologies for topical pain management and resorbable orthoses.

Under the terms of the agreement, BioPharma is now a wholly owned subsidiary of Wound Management Technologies in exchange for 4,500,000 shares of Wound Management Technologies common stock.

Wound Management Technologies' Chief Executive Officer Scott Haire states, "BioPharma's proprietary technologies and its future products are complementary to our major product CellerateRx(R). BioPharma provides broad new applications across several of the medical markets that we currently serve. Over the past year we have made excellent progress in bringing the science and technology of CellerateRx to the market. Now with the acquisition of BioPharma, we are adding additional science and technology that strengthen Wound Management Technologies' role as a leading global provider of wound care products."

CellerateRx is a collagen hydrolysate polypeptid whose patented collagen fragments, which are a fraction of the size of the native collagen molecules and particles found in other products, deliver the benefits of collagen to the body immediately. CellerateRx is used in the management of pressure ulcers, traumatic wounds, diabetic ulcers, first and second degree burns, venous stasis ulcers, ulcers due to arterial insufficiency and superficial wounds.