KitoZyme Partners on Spin-Off Focused on Arthrosis Treatment
24 Apr 2013 --- In collaboration with the University of Liège, KitoZyme, world leader in the production of vegetable chitosan, announces the launch of its first spin-out: Synolyne.
With a starting capital of about one million euros, Synolyne will focus on the research, development and marketing of a patented medical device designed to treat arthrosis by promoting cartilage repair.
Arthrosis is a joint disease. Its prevalence increases with age and the population’s increased life expectancy. It affects more than half the people aged over 65 and occupies the second rank of chronic diseases after cardiovascular conditions. It is treated by mouth or by intra-articular route, with paracetamol, hyaluronic acid, etc. According to a study by Frost & Sullivan conducted in the United States, the viscosupplementation market exceeded USD 400 million in 2010.
The arthrotic joint supplementation biomaterial used by Synolyne will consist of a gel containing micropearls of KiOmedine-CsU, an ultra pure chitosan of non-animal origin developed by KitoZyme and produced using a patented process.
KitoZyme received shares in the new company in exchange for its contribution in kind (an intellectual property licence agreement). The company will also receive royalties on future sales of Synolyne and will supply the biomaterial involved in the composition of the medical device, KiOmedine-CsU.
In addition to KitoZyme and the University of Liège (via Gesval, its valorisation interface), the shareholders in the new start-up are Meusinvest and Professor Henrotin, Director of the UROC (Unité de Recherche sur l’Os et le Cartilage, Bone and Cartilage Research Unit).
KitoZyme, a spin-off of the ULg based in Liège, is active in the sectors of biochemistry and life sciences, The company is a pioneer in the manufacturing of biomass-derived biopolymers, non-animal chitosan, chitin-glucan and beta-glucan.
KitoZyme focuses on the production and distribution of these advanced biopolymers which are exclusively produced using vegetable, renewable and non-GMO sources.
KitoZyme products are currently used in the food, cosmetics and medical fields.
