Kane Biotech's revyve™ Wound Gel Distribution Acquired By BioStem

Kane Biotech Inc. announced that BioStem Technologies Inc. has signed a Letter of Intent to acquire commercial products and development technologies from Kane’s U.S. distributor, ProgenaCare Global LLC. This agreement includes exclusive U.S. distribution rights for Kane’s revyve™ Antimicrobial Wound Gel.

Marc Edwards, President & CEO, said in a statement, “This is a great opportunity to significantly expand market penetration of the revyveTM product line in the U.S. given BioStem’s impressive track of growth within the wound care sector. We are excited to work with the BioStem team to significantly and quickly ramp up sales of the revyveTM product line in the US while, in the interim, we complete commercial-scale manufacturing of both the revyveTM Antimicrobial Wound Gel and revyveTM Antimicrobial Wound Gel Spray.”

BioStem shared the news on November 20, 2024, highlighting that adding revyve™ to its portfolio aligns with its strategy to diversify its wound care offerings and utilise its established commercial infrastructure.

“With revyveTM, we could address wounds early in the treatment continuum, greatly broadening the patient population BioStem supports and offering multiple opportunities for channel expansion. The ProgenaCare acquisition represents a significant opportunity for us as part of our portfolio expansion initiatives. The products align perfectly with our goal to provide wound-care solutions across the entire continuum of care,” stated Jason Matuszewski, CEO of BioStem, in BioStem’s press release. 

The final agreement is expected to be completed within 60 days, pending due diligence, regulatory approvals, and Board consent. BioStem and ProgenaCare plan to collaborate to integrate revyve™ into BioStem’s product lineup seamlessly.