Noventure, which licenses substance-based medical devices, has acquired the Ulkox and Oleoabrax products, based on an Olea Europaea leaf extract wound healing technology.
These medical devices were originally developed by Spanish companies Quesper R&D and Orpea Ibérica.
Olea Europaea (olive) leaf extract has shown excellent scavenging effects which contribute to the acceleration of the healing of skin wounds. Chronic wounds are mostly seen in the elderly population. Increasing costs of healthcare, an ageing population, recognition of difficult-to-treat infection threats such as biofilms, and the continued threat of diabetes and obesity worldwide, make chronic wounds a substantial clinical, social and economic challenge. From an economic point of view, the annual wound care products market is expected to reach $15–22 billion by 2024.
Ulkox and Oleoabrax are the first Olea Europaea–based products for Noventure. They are already available for licensing and have been certified as Class IIb medical devices. They are indicated for healing skin wounds of full or partial thickness. As amorphous hydrogels, they protect the affected area from infection and boost healing based on four properties: the protective barrier, skin hydration, pH control and oxygen radical scavenging effect.
Luciano Conde, CEO of Noventure, said: “This agreement will enable us to keep shaping innovative science assets and bring them to markets around the world, and to take steps towards becoming a key player in medical devices for topical applications. This is only the beginning; we have many innovative products that we will be able to bring to patients, thanks to this patented new technology.”
Jose Manuel Quesada, CEO of Quesper R&D, added: “Following more than ten years of pre-clinical and clinical research, we can proudly state that Ulkox and Oleoabrax have the proven ability to reactivate and accelerate the healing process of ulcers and skin wounds, and do so significantly better than other widely-used products. Their introduction into the market will mean a significant improvement in patients’ quality of life, as well as being an important advance for the professionals who care for them. We therefore welcome the transfer of this disruptive technology to Noventure, which will make our products available to patients all over the world.”