Locate Bio Acquires Complementary Late Stage Orthobiologics Assets, Accelerating Ambition of Building a World Leading, Diversified Orthobiologics Company

Locate Bio, an orthobiologics focused regenerative medicine company, today announced the in-licencing of multiple late stage orthobiologics assets from RCSI University of Medicine and Health Sciences.

The technologies developed by the RCSI Tissue Engineering Research Group have extensive pre-clinical and human data demonstrating their effectiveness in the treatment of both hard and soft tissues. The RCSI licensing deal includes best in class, proprietary, natural collagen-based delivery technologies, which have been developed into products for the regeneration of bone, the treatment of infection and regeneration of cartilage tissues.

Locate Bio's ambition is to build a world leading, diversified orthobiologics company with a suite of best-in-class technologies that address the performance limitations of existing products and enable orthopaedic surgeons to improve the lives of people suffering from debilitating conditions. The bone grafting market is ripe for disruption as surgeons are forced to compromise between fusion rates, side effects, convenience and affordability. Locate Bio's proprietary, regenerative medicine technology pipeline is delivering exciting orthobiologics products.

The in-licencing of the assets from RCSI provides additional depth and breadth to its current orthobiologics portfolio and accelerates its route to market. The company is looking for additional, complementary acquisition or in-licencing opportunities that would further broaden the portfolio to provide surgeons with a choice of best-in-class technologies and products that address the current challenges of existing products and meet the specific patient driven clinical need.

Locate Bio is currently seeking to establish a corporate presence in Ireland to further exploit these and future orthobiologic opportunities.

RCSI University of Medicine and Health Sciences is a world-leading international, independent university exclusively focused on education and research to drive improvements in human health worldwide. Established in 1784, to set and support professional standards for surgical training and practice in Ireland, today RCSI maintains a singular focus on health, with a clinically-led, patient-centred approch at the core of its research, education and training.

John von Benecke, CEO of Locate, said: "I am very excited by the addition of these high-quality, complementary, late stage products to our portfolio. This is an important step in our drive towards building a world leading orthobiologics business, with our platforms now covering several key areas across the waterfront of clinical use. We continue to make excellent progress with our lead product for spinal fusion and I look forward bringing these new assets through the regulatory approval process in the near future."

Dr Ian Wilding, Chairman of Locate said: "The in-licensing of these late stage orthobiologics assets accelerates the Company's ambitions and is another step in our strategy towards creating a differentiated, complementary portfolio of high value, innovative products, with strong IP and a well-defined path to market."

Peter Dines, Chief Operating Officer of Mercia, said: "We are delighted by the significant progress that Locate is making, both with their lead product, which has the potential to disrupt a $3bn* market, and with significantly rounding out of their value proposition with the addition of these assets."

Professor Fergal O'Brien, Head of the RCSI Tissue Engineering Research Group and Director of Research and Innovation at RCSI, added: "We are very pleased to be partnering with Locate Bio in this licensing deal. It is a clear validation of the excellent work being done within RCSI that we can attract businesses like Locate Bio to take these products developed in our Tissue Engineering Research Group and AMBER, the SFI Centre for Advanced Materials and Bioengineering Research, into international markets. The opportunity to translate next generation medical technologies from our research labs to the clinic in partnership with Locate Bio is perfectly aligned with RCSI's mission. This partnership will unlock the potential of our technologies to improve treatments and quality of life for patients with orthopaedic conditions."

* DRG Medtech 360 Bone Graft Substitutes 2019

ENDS

About Locate Bio

Locate Bio is an innovative orthobiologics company with a proprietary, regenerative medicine pipeline, delivering exciting orthobiologics products that have great disruptive potential.

Orthopaedic surgeons are currently forced to make the choice between best fusion rates and associated reduction in pain, at the expense of adverse side effects, inconvenience and price; or increased convenience, affordability and improved side effect profile, but often lower fusion rates and therefore worse patient outcomes. Locate Bio's ambition is to build a world leading, diversified suite of best-in-class technologies that address the performance limitations of existing products and enable orthopaedic surgeons to improve the lives of people suffering from debilitating conditions. Locate Bio's lead asset in development, is a low dose, controlled release rhBMP-2 spinal fusion product intended for the treatment of lower back pain caused by degenerative disc disease.

Locate Bio is a spin-out from the University of Nottingham and based on the research of Professor Kevin Shakesheff, a world-leading expert in regenerative medicine. The Company is backed by Mercia Asset Management PLC.

To learn more visit: https://www.locatebio.com/

About RCSI University of Medicine and Health Sciences

Ranked number one globally for Good Health and Well-being in the Times Higher Education (THE) University Impact Rankings 2020, RCSI University of Medicine and Health Sciences is an international not-for-profit university, with its headquarters in Dublin.

RCSI is exclusively focused on education and research to drive improvements in human health worldwide. It is among the top 250 universities worldwide in the THE World University Rankings (2021) and is ranked second among the universities in Ireland. Its research is ranked first in Ireland for citations. RCSI has been awarded Athena SWAN Bronze accreditation for positive gender practice in higher education.

Visit the RCSI MyHealth Expert Directory to find the details of our experts across a range of healthcare issues and concerns. In support of the UN Sustainable Development Goals to promote health and wellbeing, these academics, clinicians and researchers are willing to engage with the media in their area of expertise so they can empower people with information that leads them to better health.