RepliCel Life Sciences Inc (OTCMKTS:REPCF) has announced that it has been awarded a key patent for its technology, in the US. The company noted that the patent covers significant components of their multi-needle dermal injection device. The technology was developed after REPCF, while developing treatments for baldness and sun damaged skin, determined that a new technology for dermal injections, was needed. Moreover, the new technology was to offer a new level of precision and control, over substances being injected.
According to the patent awarded by the USPTO, it is related to technologies designed for developing unparalleled control and repeatable consistency. Added to this, the patent covers the element that was designed to numb the skin, prior to injecting it. The company noted that the process is likely to reduce the need for administering anesthetics, prior to aesthetic injection procedures. RepliCel is in the process of developing the first technology, under this patent, RCI-02, which would be used for injecting soft tissue fillers.
Using this technology, REPCF is likely to target the market for minimal invasive procedures. As of 2016, there were 11 million of such procedures, conducted annually, in 2016. It is anticipated that RCI-02 alone would be able to address a market that is worth $3 billion and offers the nearest term opportunity for the company, as well. It should be noted here that RepliCel has two similar patents, granted by the patent and trademark office, in the EU.
In addition to this, the company recently released interim data, from a phase-1 trial of RCS-01, aimed at curing sun-damaged and aged skin. The results of the study were clinically and statistically significant. The trial was aimed at developing a safety profile for the drug, at six months post injection. The study was conducted in Germany and was able to record zero serious adverse events.
RepliCel Life Sciences Inc (OTCMKTS:REPCF) lost 4.82% of its share value, during the May 1 trading session, to close at $0.671 per share.