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Advanced BioHealing is a specialty biotechnology company focused on the development and marketing of cell-based and tissue-engineered products for wound care. We are a privately held, New York-based company, with two approved products: Dermagraft® and TransCyte®. Our development pipeline also includes a next-generation bioengineered woundtherapy for which an Investigational Device Exemption application (IDE) has beensubmitted to the FDA. ABH was founded in 2003 by David Eisenbud, MD, MBA, then President of the American Academy of Wound Management, to commercialize a novel bioengineered skin. This investigational product, which has been used on more than 600 people, consists of a simple keratinocyte sheet that is preserved in a unique, proprietary way that enables long-term storage without the deep freezing techniques that impede inventory and distribution of other products in this field. Clinical results of burn, venous, diabetic, and dermabrasion treatment with this dressing have been excellent, and they have been published in several peer-reviewed surgical and dermatology journals. At present, the company is poised to commence a clinical trial once its IDE is approved by the FDA. Over $11 million in private financing has been raised for this project. In late 2005, when Smith & Nephew announced the sale of assets related to Dermagraft® and TransCyte®, the opportunity seemed to fit perfectly into the strategy for ABH. After extensive due diligence on the tasks required to resume production and thorough analysis of the wound care markets, we came to the conclusion that there was good reason to bring these excellent products back to help the many thousands of patients with appropriate wounds. Our purchase of Dermagraft® and TransCyte® was completed on May 25, 2006. Ultimately, the goal of Advanced BioHealing is to be a clearinghouse for advanced wound technologies and to offer a portfolio of complementary products that accelerate healing or improve cosmetic and functional outcomes.