New Jersey Tech Council 23rd Award Celebration Recognized the Regions Technology and Life Sciences Companies for Accomplishments in Leadership, Innovation and Collaboration
DOYLESTOWN, Pa., Nov. 26, 2019 /PRNewswire/ — OrthogenRx®, Inc., a medical device company focused on the development and commercialization of treatments for musculoskeletal conditions including, knee pain caused by osteoarthritis (OA), has announced that the company was awarded the 2019 Innovative Company of the Year Award by the New Jersey Tech Council (NJTC) and the award sponsored by Rowan University and Yorktel.
More than 400 business leaders and biotech investors gathered at this year’s 23rd award celebration, hosted by the NJTC. The event recognized the region’s technology and life sciences companies and their leaders for their business accomplishments in leadership, innovation and collaboration.
“Although headquartered in NJ, the fact that OrthogenRx – a Pennsylvania based company – won the Innovative Company of the Year Award, speaks volumes to our focus on being collaborative around the region and a showcase on how innovation knows no boarders. ,” said Aaron Price, President and CEO, New Jersey Tech Council. “The medical technology and life science community in this region is second to none. We are proud to be a leader in empowering the network to help companies like OrthogenRx thrive. “
The OrthogenRx products, GenVisc® 850 and TriVisc®, are solutions of highly purified hyaluronic acid (sodium hyaluronate; HA). Hyaluronic Acid can help supplement the viscous and lubricating properties of the fluid in the knee joint and utilized for the treatment of osteoarthritis knee pain. TriVisc is administered by a healthcare professional in 3 injections in the knee given at weekly intervals, while GenVisc 850 is administered in 3-5 weekly doses. In clinical studies these products have been shown to provide patients with six months of pain relief and can be repeated if the pain returns. The intra-articular HA market in the U.S. exceeds $1 billion with 16 products being offered.
OrthogenRx has been an active member of the NJTC for the past 6 years and is humbled to be honored with this award. “Innovation is a team sport and the success of OrthogenRx is due to the key contributions of our team striving for excellence, dedication and creativity.” stated Dr. Mike Daley, founder and CEO of OrthogenRx. “The award also reflects the recognition of our unprecedented success as a small company in bringing multiple products to market. The award along with our promising pipeline marks the journey of OrthogenRx fulfilling its vision of being the preeminent supplier of treatment solutions for musculoskeletal disorders.”
TriVisc is the first product (Class III medical device) in over 20 years to secure FDA approval under Section 216 of the 1997 Food and Drug Administration Modernization Act. TriVisc is derived from bacterial biofermentation process instead of being derived from chicken combs. This means that patients with allergies to chicken, eggs, feathers and other avian biproducts are not at risk for reactions to chicken derived components. The GenVisc 850 and TriVisc formulations have had over 35 million doses administered worldwide outside the US. TriVisc is the second product to receive FDA PMA approval in the OrthogenRx portfolio in just 2 years. GenVisc® 850, which is a 5 weekly injection regimen of sodium hyaluronate, was approved by the FDA in September 2015.
TriVisc and GenVisc 850 were developed in collaboration with Meiji Seika Pharma Co., Ltd. (Japan) and its manufacturing subsidiary, Meiji Farma Spain S.A (Spain). These formulations have received approval in over 63 countries (outside US) under the Adant® and related brands and distributed by Meiji Seika Pharma Group and partners.
OrthogenRx Inc. is a late stage development company headquartered in Doylestown, OrthogenRx, Inc. is focused on the development and commercialization of treatments for knee pain caused by OA. OA is the most common cause of knee pain, causing sufferers significant pain and disability. The management team has decades of industry experience in product development, commercialization, sales/marketing, and reimbursement of medical device products. To learn more please visit OrthogenRx.com.
GenVisc 850 and TriVisc are indicated for the treatment of pain in OA of the knee in patients who have failed to respond adequately to conservative non-pharmacologic therapy and simple analgesics, e.g., acetaminophen. Do not administer to patients with known hypersensitivity (allergy) to sodium hyaluronate preparations. Risks can pain and/or swelling of the injected joint. See full prescribing information available at www.genvisc850.com and www.trivisc.com.
SOURCE OrthogenRx, Inc.