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Replies to post #290 on SK3 Group Inc. (SKTO)
MIAMI, FLORIDA--(Marketwire - 12/17/09) - SK3 Group, Inc.'s (PINK SHEETS:SKTO - News) new parent company Healthcare of Today, Inc. (www.healthcareoftoday.com/) has today announced the acquisition of Xenotis Pty Ltd., the Australian-based producer of advanced human tissue engineering technology for $40M.
"Xenotis is leading the world in advanced human tissue engineering. While many companies are interested in this fast-growing market, few have made the clear strides that Xenotis has. The company has working products and a strong distribution network in place around the globe. As we consider how to seamlessly integrate Xenotis into our family of companies, I think there is a particular dynamic to be enjoyed given our relationship with Regenetech, which is the world leader in advanced stem cell research technology," says Healthcare of Today CEO Henry Jan.
The recent growth of the tissue engineering industry has been attributed to the shortage of donors and the desire to avoid rejection. Xenotis has been involved in proprietary tissue scaffolds and processing technology since the late 1980's. Other medical devices and products in the company's tissue engineering portfolio include a range of tissue-engineered grafts, replacement blood vessels, ligaments and heart valves.
Xenotis is well known for its custom-designed biosynthetic graft, produced according to strict specifications for use in peripheral bypass or arteriovenous access. The custom-designed prosthetic material combines the durability of synthetic material with similar hemocompatibility to that of a natural blood vessel. This stands in contrast to pure biological grafts, which are made from recycled blood vessels or other recovered tissues.
The prostheses is used when grafting from the patient's own blood vessel is not possible. Among its benefits are that it is non-toxic, non-calcifying, and has medium to long-term functionality, making it a more cost-effective solution. It may also allow the patient to undergo fewer procedures, a distinct advantage for seniors for whom general health considerations increase the risk of repeated surgical procedures. To date, the prostheses has been implanted in tens of thousands of patients across 30 countries, and is produced and sold through one of Xenotis's wholly-owned subsidiaries.
Regenetech, Inc. (http://www.Regenetech.com/), a Houston-based biotechnology company, has established itself as the world leader in advanced adult stem cell technology. It has licensed 13 patents, utilizing its unique relationship with NASA, for the expansion of adult stem cells in a simulated weightless environment, and through its own research efforts has obtained several hundred patents and patent applications throughout the world. With its vast patent portfolio, Regenetech has been able to develop an aggressive international licensing policy, offering its technology and patents across the globe.
Healthcare of Today CEO Henry Jan also says, "Xenotis's work has changed the lives of patients throughout the world. Improving the quality and viability of people's lives is something we are quite passionate about here at Healthcare of Today. Considering that the United States is 50% of the world medical device market, we wholeheartedly support their entry into this market and into the lives of our core customers. We intend on using the relationships that Xenotis has built around the world to expand the reach of the other companies in the Healthcare of Today family so that all can improve the value to the shareholder."
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