Cytomedix, a Gaithersburg, Md.-based pioneer in biodynamic therapies, has launched its new corporate brand identity, Nuo Therapeutics. The company intends to change its corporate name to Nuo Therapeutics, following shareholder approval of the name change proposal at its Annual General Meeting of the company's shareholders on Nov. 12.
The introduction of Nuo Therapeutics and proposed renaming of the company is seen as an important step in the strategic direction initiated by management earlier this year. In the last 10 months, the company has executed a number of transactions aimed at focusing the organization exclusively on the multi-billion dollar U.S chronic wound care market. Major accomplishments include:
Out-licensed non-strategic assets
Closed its R&D facility
Raised $37 million to build and equip a new commercial organization
Recruited and retained the initial members of a commercial team
Launched the newly branded wound care product Aurix
Dean Tozer, chief commercial officer, said, "With the official launch of Aurix this week, we now are intently focused on growing our revenues within the 17 territories that have been created through recent additions to our direct sales organization. Our intent is to drive demand within both the hospital outpatient wound care centers and Veterans Affairs facilities. We also have expanded our clinical and reimbursement teams with key hires to further support these initiatives. We believe that the market potential for Aurix is substantial, and will seek to maximize this opportunity for the benefit of clinicians, patients, our partners and shareholders."
