TissueTech™ Received Prestigious Tibbetts Award from Small Business Administration for Its Significant Achievements in Regenerative Medicine
MIAMI, FL., June 26, 2015 – TissueTech™ Inc., a privately held biotechnology company and a leader in regenerative healing therapies, today announced it was presented a prestigious Tibbetts Award by the U.S. Small Business Administration (SBA). The SBA Administrator Maria Contreras-Sweet presented the award at a White House ceremony on June 15. The Company’s groundbreaking scientific research in the study of regenerative medicine has driven the development of multiple innovative products that are used worldwide by doctors in ophthalmology, optometry, orthopedics and chronic wound care.
Pictured left to right: Maria Contreras-Sweet, SBA Administrator; Amy Tseng, President and Chief Executive Officer, TissueTech; Angela Tseng, Bio-Tissue
The Tibbetts Award is named after Roland Tibbetts, who was instrumental in developing the Small Business Innovation Research (SBIR) program. The Tibbetts is the highest award given by the U.S. Government to honor outstanding technical and commercial achievements of small businesses under the SBIR and Small Business Technology Transfer (STTR) programs. Winners are selected based on the economic impact of their technological innovation, and the extent to which that innovation served federal R&D needs, encouraged diverse participation, and increased the commercialization of federal research. From a pool of thousands of applicants, only 23 companies were recognized, representing a variety of business segments including computational, aerospace, clinical, and biological sciences. TissueTech was recognized as a "Model of Excellence" for the Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
“We are extremely honored that TissueTech has been chosen for this prestigious award and recognized for our pioneering achievements in regenerative medicine,” said Amy Tseng, President and Chief Executive Officer of TissueTech, who accepted the award on behalf of the Company. “Our history of federal funding through the National Institute of Health and the SBIR program has been instrumental to our development and commercialization of groundbreaking regenerative medicine products, benefitting thousands of patients worldwide.”
TissueTech received its first SBIR grant in 2003, and at that time the Company had fewer than 20 employees. Since then, the Company has received 11 SBIR grants to date and now has more than 180 employees. Recent SBIR awards will support continued growth with the development of cellular and tissue based drug and biologic products. These new products are at the forefront of innovation in regenerative medicine.
TissueTech’s core products include cryopreserved amniotic membrane and umbilical cord-based tissue with innate therapeutic actions scientifically proven to orchestrate the healing process in a multitude of clinical applications. The Company’s proprietary CryoTek® preservation method ensures the tissue retains its biologic activity and healing components. The Company’s regenerative therapies and technologies are provided through its commercial subsidiaries: Bio-Tissue® Inc., the leader in regenerative biologic therapies and ocular hygiene solutions for the treatment of ocular surface diseases and disorders in the eye care market, and Amniox® Medical Inc., a leading provider of regenerative tissue therapies to the musculoskeletal and wound care markets.
TissueTech, Inc. is a leader in regenerative amniotic tissue-based products for use in the ophthalmology, optometry, musculoskeletal, and wound care markets. The NIH has supported research by TissueTech with more than 25 continuous years of research grants. Since its inception in 2001, over 200,000 human implants have been conducted using the Company’s proprietary CryoTekmethod and more than 300 peer-reviewed scientific publications and clinical studies have been produced supporting the technology platform. The Company has pioneered
the clinical application of human amniotic membrane and its role in stem cell research. The
Company’s first product, AmnioGraft®, is the only tissue graft designated by the Food and Drug Administration (FDA) as homologous for promoting ophthalmic wound healing while
suppressing scarring and inflammation. TissueTech’s rapid growth is supported by equity financing from River Cities Capital Funds, Ballast Point Ventures, and other individual investors.
Founded in 1997, Bio-Tissue, Inc. is an ophthalmic biotechnology company and wholly owned subsidiary of TissueTech, Inc. The Company provides a comprehensive line of cryopreserved amniotic membrane wound healing products and hygiene solutions for the prevention and treatment of ocular surface diseases and disorders, including: AmnioGraft®, a biologic ocular transplantation graft; AmnioGuard®, a biologic glaucoma shunt tube graft; and the PROKERA® family of biologic corneal bandage devices. These products reduce inflammation, promote healing, minimize corneal scarring and pain, and control the angiogenic process. Bio-Tissue also developed and markets the Cliradex® line of products, a natural lid, lash and facial cleanser with 4-Terpineol, the active component of tea tree oil (TTO), for the management of symptoms in ocular diseases such as blepharitis, demodex, and rosacea. For more information, visit www.biotissue.com.
About AmnioxMedical, Inc.
Founded in 2011 to serve the orthopedic and wound care markets, Amniox Medical, a wholly owned subsidiary of TissueTech, Inc. is dedicated to developing and marketing regenerative therapies, processed from amniotic membrane and umbilical cord tissue, for the adult wound and surgical environments. Amniox Medical’s products include NEOX® Wound Matrix for treatment of dermal ulcers and defects, and CLARIX® Regenerative Matrix for use as a covering, wrap, or barrier for reconstructive surgical applications. For more information, visit www.amnioxmedical.com.