Kensey Nash (NASDAQ:KNSY) has received a $1.9 million Phase II Small Business Innovation Research grant from the National Institutes of Health to examine the use of bioadhesive surgical mesh to repair tendons.
The Exton, Pennsylvania-based medical device company focused on regenerative medicine will develop and review whether the use of a bioadhesive device can create stronger repairs than the current practice of suturing the tendon to enhance repair efficacy and improve patient outcomes.
Doug Evans, Kensey Nash’s chief operating officer said: “This grant will allow us to explore new applications for our recently acquired adhesive technology in combination with our other extracellular matrix, collagen and polymer-based biomaterials to develop new solutions for existing medical problems.”
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Kensey Nash’s business model relies on strategic partners to distribute and sell the products it develops and manufactures.
In January, Kensey Nash acquired Wisconsin-based medical adhesives business Nerites Corp. for about $20 million. By 2015, the U.S. medical adhesive and sealant markets are projected to be more than $1 billion.
