Saturday, May 7, 2016
Organogenesis Opening Old Wounds
"The Canton biotech firm Organogenesis Inc. has raised $30 million from investors to expand the company’s wound care work, officials announced Thursday. The money will go toward increasing its commercial operations and product portfolio, including the company’s line of PuraPly antimicrobial shields that help protect wounds and support healing. Organogenesis is planning to launch burn treatment and soft tissue reinforcement products aimed at outpatient care, the company said. It is also looking for new opportunities in the inpatient and surgical markets. More than 1,500 hospitals and wound centers currently use Organogenesis products. The growth comes after the company was dealt a blow in late 2013 when the federal government cut reimbursement rates for its main skin-graft product. The company then scaled back its workforce and returned more than $800,000 in tax incentives."