ULURU Inc. (NYSE AMEX: ULU) announced today that an Australian Register of Therapeutic Goods Certificate has been issued by the Therapeutic Goods Administration approving the marketing of Altrazeal® in Australia.
Kerry P. Gray, President and CEO of ULURU, commented:
This is another important milestone in the worldwide commercialization of Altrazeal®. Strategically this is an important market as the world’s largest wound research program is currently being conducted at the Wound Management Innovation Cooperation Research Centre in Australia. This centre’s focus is the development of clinically and cost effective treatment regimens for the management of chronic wounds. Gaining the support of this influential group could have significant global implications for the marketing of Altrazeal®. It is anticipated that the initial Altrazeal® orders for Australia will occur in the next thirty days. Also, marketing approval in New Zealand is anticipated to occur in the next thirty days.
In Australia and New Zealand approximately 2.5% of the population, or 700,000 patients, suffer from chronic wounds, with 80% of these wounds caused by cardiovascular disease, endocrine disorders (including diabetes), and infection. With the increase in cardiovascular disease, obesity, and the aging population, it is anticipated that the wound care market will double in size over the next five to seven years and the cost of treating chronic wounds will exceed $1.0 billion annually.
NYSE Amex (the “Exchange”) has accepted the Company’s plans of compliance and granted ULURU’s an extension until April 2, 2012 to regain compliance with the continued listing standards of Section 1003(a)(iv) of the Exchange’s Company Guide and an extension until March 21, 2013 to regain compliance with the continued listing standards of Section 1003(a)(iii) of the Exchange’s Company Guide.
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ULURU Inc. is committed to developing and commercializing a broad range of innovative wound care and muco-adhesive film products, based on our patented Nanoflex® and OraDisc™ technologies, with the aim of improving outcomes for patients, health care professionals and providers.
ULURU Inc. developed and commercializes Altrazeal®, a transforming powder dressing with proprietary Nanoflex® technology, for the management of exuding wounds.