Derma Sciences, Inc (DSCI)

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9:20AM Derma Sciences enters the skin substitute market with licensing agreement for innovative amniotic membrane wound care products (DSCI) 11.81 :

Co announces it has licensed exclusive rights to two novel human placental-derived tissue products for all dermal indications in the advanced wound care and burn markets from BioD LLC, a privately held company based in Memphis, Tenn. These products will be branded as AmnioMatrix and launched during the third quarter of 2014, expanding Derma Sciences' portfolio of advanced wound care products into the $500 million skin substitute market.
Terms of the license include an upfront cash payment, royalties on product sales and performance-based milestones to be paid in cash and Derma Sciences stock options. In support of the pending product launches, Derma Sciences plans to add approximately 12 direct sales representatives, increasing its number to 50. Along with these new representatives, the company will be adding an additional Regional Manager, Clinical Field Specialist and Total Contact Casting Specialist.
The company will also be expanding its marketing department by hiring a Product Director, Reimbursement/Healthcare Economics Director and Training and Education Director. This brings the total sales and marketing infrastructure in the U.S. to 86. The new personnel are expected to be hired before the company's global sales meeting in mid-February.