MiMedx licenses Turn's PermaFusion platform for $1M upfront, up to $9.55M in milestones for FleX AM product rights

MIMEDX GROUP, INC.

MiMedx obtains exclusive worldwide license to Turn's PermaFusion antimicrobial platform for wound, burn, and surgical fields.
Upfront cash payment of $1 million; potential milestone payments up to $9.55 million upon FDA 510(k) clearance of FleX AM product.
MiMedx acquires commercial rights to FleX AM, a particulate bovine collagen powder with antimicrobial properties, expected FDA clearance in 2023.
Turn will receive royalties on sales of products developed using the licensed technology.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MIMEDX GROUP, INC. entered into Platform Intellectual Property License with Global Health Solutions, Inc. (d.b.a. Turn Therapeutics) valued at Upfront cash payment of $1 million; future payments up to $9.55 million contingent upon FDA 510(k) c (effective 2022-12-07).

Action: entry
Agreement: license
Counterparty: Global Health Solutions, Inc. (d.b.a. Turn Therapeutics)
Value: Upfront cash payment of $1 million; future payments up to $9.55 million contingent upon FDA 510(k) c
Effective: 2022-12-07

Exact text from the filing

On December 7, 2022, MiMedx Group, Inc. (“MIMEDX” or the “Company”) entered into a Platform Intellectual Property License (the “License Agreement”) with Global Health Solutions, Inc. (d.b.a. Turn Therapeutics or “Turn”), providing MIMEDX an exclusive, worldwide sublicensable license to use Turn’s proprietary antimicrobial technology platform (PermaFusion®) to develop antimicrobial line extensions and new products.

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MIMEDX GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-300537

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