Grander Acquisition LLC will continue to do business under the PolarityTE name as a private company
SALT LAKE CITY, Aug. 22, 2023 /PRNewswire/ — 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®.
“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.
About Grander Acquisition LLC
Grander Acquisition LLC, headquartered in Salt Lake City, Utah, is a biotechnology company developing regenerative tissue products. Grander Acquisition LLC’s first regenerative tissue product is SkinTE®. Grander Acquisition LLC has an open investigational new drug application (IND) for SkinTE® with the U.S. Food and Drug Administration (FDA) and is now pursuing the first of two pivotal studies on SkinTE® needed to support a biologics license application (BLA) for a chronic cutaneous ulcer indication. SkinTE® is available for investigational use only. Learn more at www.PolarityTE.com.
SOURCE Grander Acquisition