Polyganics Builds New Facility to Continue Growth, Supported by RIG Subsidy of €3.8 Million

Polyganics, a medical technology company developing, manufacturing and commercializing bioresorbable medical devices, is expanding its capacity with a new facility at the Zernike Campus, Groningen, to enter a new phase of commercial and R&D growth. Polyganics has been awarded a subsidy of ‚¬3.8 million by the Regional Investment Aid Groningen (RIG) initiative to support this development.

To-date, Polyganics has enjoyed significant growth and success in manufacturing, commercialization and R&D. After selling its leading NASOPORE portfolio to Stryker in 2014, Polyganics continues to manufacture these products. In addition, Polyganics proprietary Peripheral Nerve Repair (PNR) portfolio continues its international roll-out. LIQOSEAL, the Companys lead Neurosurgery product, has entered clinical trials, and its Liver and Pancreas Sealant Patch has achieved multiple milestones on its path to the clinic, including being granted Breakthrough Designation by the FDA.

Polyganics will build a dedicated new site, which will house its headquarters, state-of-the-art research laboratories and expanded manufacturing and packaging facilities. The purpose-built facility will provide the space to ensure that the company can continue to develop and deliver a reliable supply of bioresorbable medical devices to its customers and remain at the forefront of research and manufacturing excellence.

To support the development of this new site, Polyganics has been awarded a ‚¬3.8 million RIG subsidy. The RIG initiative was created to support innovative and sustainable companies with the aim to boost the economy and increase employment in the Eems Delta region and at the Zernike Campus. At the Zernike Campus the primary focus is on companies in the fields of energy, chemistry, life sciences and big data.

Rudy Mareel, CEO of Polyganics, commented: With the continued increase in demand for the ENT and PNR portfolios, and a strong growth outlook for the various highly promising products in our pipeline, our move to the larger facility at the Zernike Campus is absolutely essential. We are grateful to receive a RIG subsidy to support our expansion, which will enable us to continue to do what we are doing best: providing unique bioresorbable medical devices, addressing unmet clinical needs.

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Patrick Brouns, member of the Provincial Executive of Groningen, commented: This investment is well aligned with our strategy to enable innovation and stimulate growth in the region. Polyganics has a track record of success and it provides attractive employment opportunities. The province of Groningen is proud to support such companies, which provide and motivate ongoing investment in our region.

Polyganics is preparing to start building by the end of 2019, with the aim to move into its new facility in 2021.

– ENDS –

Notes to editors

About Polyganics

Polyganics is a medical technology company with multiple versatile polymer platforms. The company develops, manufactures and commercializes innovative bioresorbable medical devices that facilitate tissue repair and regeneration.

Polyganics portfolio includes products developed in-house and in collaboration with leading medical technology companies and academic centers of excellence. In the Peripheral Nerve Repair (PNR) field, the portfolio includes three marketed products: VIVOSORB for minimizing unwanted tissue adhesions after surgery; NEUROLAC for supporting PNR following hand surgery; and NEUROCAP for the management of symptomatic neuromas. In the Neurosurgery and General Surgery field, products in development include a sealant for the dura membrane (LIQOSEAL) and the Liver and Pancreas Sealant Patch.

In 2014, Polyganics sold its Ear, Nose & Throat (ENT) surgery business unit (the NASOPORE product family including HEMOPORE, SINUPORE and OTOPORE and NASOPORE-FD) to Stryker, one of the worlds leading medical technology companies. Polyganics continues to manufacture the NASOPORE product range for Stryker. To date, Polyganics has produced and delivered more than 5 million devices.

Polyganics is a privately held company based in Groningen, The Netherlands, a center of biomedical engineering excellence, where it has an ISO 13485-certified manufacturing facility. The companys polymer platform technologies are protected by a broad portfolio of patents and its products have received clearance from the US FDA, CE-approval, and approval from CFDA and other international authorities.

For more information, visit: www.polyganics.com.

About the RIG

The Regional Investment Aid Groningen (RIG) has been set up with the aim to strengthen the regional economy and increase employment for industrial companies in the Eems Delta region and at the Zernike Science Park. In 2014, ‚¬40 million was made available by the Ministry of Economic Affairs, the Economic Board Groningen and the province of Groningen. An additional ‚¬12 million has been made available via the National Program Groningen. The RIG is managed on behalf of the province of Groningen by the Samenwerkingsverband Noord Nederland (SNN).

Polyganics
Paul Roos, Chief Financial Officer
Romke
Ribbels, Director Marketing & Business Development
T: +31 50
588 65 88
E: [email protected]

Instinctif Partners
Dr Christelle Kerouedan / Dr Katie
Duffell
T: +44 (0)20 7457 2020
E: [email protected]