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Maggot Therapy Company Gets Green Light for Expansion

A Bridgend-based company has received approval to expand use of its maggot therapy in the US and Germany.

 

BioMonde, which manufactures and distributes larval debridement therapy products to help heal wounds, was given the green light by the US Food & Drink Administration and the Federal Institute for Drugs and Medical Devices in Germany.

In the US, both formats of its larval therapy products were approved as medical devices for use on non-healing necrotic skin and soft-tissue wounds such as ulcers and trauma wounds.

In Germany, meanwhile, its larval therapy products were approved as a medicine, paving the way for further licenses to be agreed across Europe under the mutual recognition process.

Gareth Kempson, chief executive officer at BioMonde, said: "Clearing the critical regulatory hurdles in Europe and the US provides the platform to deliver the growth aspirations this ambitious wound care business has.

"Across key operations in UK and Germany, in the current trading year to Mar 2014, BioMonde is on track to deliver 200 per cent growth in earnings before interest, taxes, depreciation and amortisation and more than 20 per cent growth in year-on-year revenue."

BioMonde also reported that it was in the final stages of closing a £3.5m funding round, which will support its planned expansion into the US and Europe.

 

Source: Insider News Wales

 

 

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