Noventure announces acquisition of the Ulkox and Oleoabrax products, based on an Olea Europaea leaf extract wound-healing technology.
FREMONT, CA: Noventure, a company specializing in licensing novel substance-based medical devices and specialist food supplements, has announced that it has taken over the Ulkox and Oleoabrax products, focused on an Olea Europaea leaf extract wound-healing technology. These medical devices were created in collaboration with the Andalusian Health Service (Servicio Andaluz de Salud, SAS) by Spanish companies Quesper R&D, which specializes in the design and manufacturing of medical devices with a uniquely innovative character, and Orpea Ibrica, the top company in Spain in the field of care for the elderly and dependent people, and the mental health department.
The scavenging effects of Olea Europaea (olive) leaf extract have been shown to help speed up the healing of skin wounds. Chronic wounds are most common among the elderly. Chronic wounds are a significant clinical, social, and economic problem due to rising healthcare expenditure, an aging population, awareness of difficult-to-treat infection issues like biofilms, and the global threat of diabetes and obesity. According to economics, the annual wound care products market is projected to hit $15 "22 billion ($12.5 "18.4 billion) by 2024.
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, said, "Following more than ten years of preclinical 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."