Alafair Biosciences Reports Strong Growth in 2024

AUSTIN, Texas, March 5, 2025 /PRNewswire/ -- Alafair Biosciences, Inc., a leading innovator in medical device technology, announced business results for 2024, marking a year of growth and expansion. The company's flagship product, VersaWrap^® Hydrogel Sheet (VersaWrap Tendon Protector, VersaWrap Nerve Protector), drove 51% year-over-year revenue growth, demonstrating increased adoption among surgeons.

VersaWrap Hydrogel Sheet is a hyaluronic acid and alginate hydrogel that facilitates tissue gliding and prevents tethering, which reduces the need for reoperations and improves patient outcomes. Designed to protect injuries during healing, VersaWrap Tendon Protector is an FDA-cleared Class II medical device for use on tendons, ligaments, skeletal muscles, and VersaWrap Nerve Protector is cleared for use on peripheral nerves. Most competing products are collagen-based—derived from bovine, porcine, or human placental tissue—which remodel into additional tissue and can add bulk. VersaWrap consists of hyaluronic acid and plant-based alginate, is free from human or animal materials, and dissolves completely without replacement, making it non-bulking.

2024 Business Highlights:

• 51% year-over-year revenue growth from VersaWrap Hydrogel Sheet sales
• Generated positive net income and EBITDA
• Surpassed 24,000 implants of VersaWrap Hydrogel Sheet nationwide
• Expanded distribution network by 64%
• Recognized by Inc. 5000 as the 11th fastest-growing private company in Health Products

"This explosive growth is a direct reflection of VersaWrap's clinical value and the dedication of our team, partners, and customers," said John Joyoprayitno, President & CEO of Alafair Biosciences. "As we look ahead, we are committed to further expanding our reach and to helping even more surgeons achieve positive patient outcomes. With our rapidly growing distribution network and strong market momentum, Alafair is well-positioned for continued success in 2025 and beyond."

For more information about Alafair Biosciences and VersaWrap^® Hydrogel Sheet, visit www.alafairbiosciences.com

About Alafair Biosciences, Inc.
Alafair is a privately held medical device company developing and marketing an innovative product portfolio based on its proprietary hydrogel technology. The mission of Alafair is to revolutionize surgical care with our versatile hydrogel technology, delivering unparalleled value to patients, surgeons, and healthcare facilities by enhancing soft tissue protection and by elevating patient outcomes. Alafair products are distributed through a dispersed network of independent distributors across the United States.

About VersaWrap^® Hydrogel Sheet
VersaWrap Hydrogel Sheet (VersaWrap Tendon Protector, VersaWrap Nerve Protector) is an FDA-cleared medical device implant (not tissue) comprising hyaluronic acid (HA) and alginate that provides a gelatinous encasement. VersaWrap Tendon Protector is indicated to manage and protect injured tendons where there is no substantial loss of tendon tissue, to manage and protect surrounding tissues such as ligaments and skeletal muscles, and may encounter structures such as anchors, grafts, staples, and sutures. VersaWrap Nerve Protector is indicated to manage peripheral nerve injuries where there is no substantial loss of nerve tissue. Our innovative technology allows tissues to glide and to remain untethered, thereby reducing reoperations and improving patient outcomes.

View original content to download multimedia:https://www.prnewswire.com/news-releases/alafair-biosciences-reports-strong-growth-in-2024-302393247.html

SOURCE Alafair Biosciences, Inc.