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Novel Biomaterial for Improved and Cost-efficient Wound Healing

Objective

Wound treatment is a major healthcare cost for all developed countries. The global market for advanced wound care products was projected to be $ 3 billion in 2012, with an annual growth above 10% and representing one of the leading medical product sectors. However, this represents only some 15-20% of the overall cost of wound treatment, where hospitalisation and nurse time represent the remaining costs.
BIOVOTEC aims to pursue a major market opportunity by developing a novel biomaterial based cost-effective wound dressings that can be used for initial treatment of all wounds at risk of delayed or non-healing, reducing the incidence of chronic wounds. BIOCURE range products will be safer, potentially more effective, much more easily scalable and significantly lower in cost when compared with the available advanced wound healing products.
BIOCURE is an opportunity for BIOVOTEC to enter the world-wide advanced wound care market and maintain the European competitive position in the growing biotech and wound management sector. The accomplishment of the project objectives will thus represent a significant business opportunity for the two SMEs, with expected sales of over €50 million within 5 years of launch (i.e. 2022). Furthermore, BIOCURE will positively impact clinicians and patients through early stage treatment or resolution of chronic wounds and payers through reduced treatment costs per wound.

Field of science

  • /medical and health sciences/clinical medicine/endocrinology/diabetes
  • /engineering and technology/industrial biotechnology/biomaterials
  • /medical and health sciences/health sciences/nursing
  • /social sciences/economics and business/business and management/commerce

Call for proposal

H2020-SMEINST-2-2015
See other projects for this call

Funding Scheme

SME-2 - SME instrument phase 2

Coordinator

BIOVOTEC AS
Address
Hoffsveien 21 23
0275 Oslo
Norway
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 1 181 977,30

Participants (1)

FINESSE MEDICAL LIMITED

Participation ended

Ireland
EU contribution
€ 123 960,20
Address
Ida Business Park Athlone Road
N39 DX73 Longford
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)