Part of article in stock head today Wounds that heal themselves...

Part of article in stock head today
Wounds that heal themselves

Mr Williams bought $58,000 worth of stock in PolyNovo two weeks ago.
He controls 2.5 per cent of that company.
The company makes biodegradable wound dressings and a high-tech implant for women who have had a mastectomy, the idea being to create a ‘scaffold’ around which the body can grow its own cells and potentially grow its own new breast shape.
PolyNovo doubled its revenue from the all-important US market in the half year to December 31, from $2.5m to $4.8m, with three customers from that country making up 10 per cent of all sales revenue.
It cut $1m from the half year loss, which hit $2.1m, and total revenue from around the world was $5.7m.
“PNV’s been a ball-tearer,” Mr Williams said.
“A lot of the major surgeons are saying [NovoSorb is] changing the way wounds are handled, in the US, and that is permeating the conferences now,” and it’s been taken up by some major hospitals.
He says it’s got an “incredible” market cap — $489m — for a company that made just $3.8m in commercial product sales in the half (the rest came from a clinical trial tie-up with the US Biomedical Advanced Research and Development Authority).