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Venn Life Sciences Holdings PLC Announces Launch of Innovation Division and Co-Development Initiative

Friday, 17 May 2013 02:00am EDT 

Venn Life Sciences Holdings PLC announced that it established InnoVenn, the Company‚Äôs new division set up to focus on co-development opportunities, particularly in the medical device arena. The goal of InnoVenn is to accelerate the commercialization of life science products in the later stages of development. InnoVenn's first co-development initiative will be a joint venture with two Irish biomedical companies, Cellulac Limited and Biopharmed West Limited, developing the next generation of biodegradable human implants, to replace the widespread use of titanium in orthopaedic surgery. The joint venture will also provide services from product design, product development through to regulatory approvals for the next generation of biodegradable human implants. InnoVenn will provide clinical trial management services during the product development stage and will collate the clinical data that is essential for successful regulatory approval as well as retaining a stake in the Joint Venture and the IP owned by it. 

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