Triad Life Sciences

About Triad Life Sciences

Triad Life Sciences Inc. operates as a biotechnology company with a sharp focus on developing and commercializing tissue-based solutions for regenerative medicine. Founded in 2017 in Memphis, Tennessee, the company directs its efforts towards addressing complex wound care and soft tissue repair challenges. The leadership team includes President and CEO Russell Olsen, who brings extensive experience from his time at other major players in the medical device and biologics space, such as Wright Medical Group and BioD.

The company's core business revolves around its proprietary material science platform, which processes amniotic tissue to create advanced extracellular matrix (ECM) products. These products are designed for a range of clinical applications, including the treatment of acute and chronic wounds, soft tissue injuries, and other regenerative needs. Triad serves a diverse client base that encompasses hospitals, surgical centers, and various healthcare providers. Its business model centers on the sale of these medical devices to its customers, aiming to provide solutions that are not only clinically effective but also affordable to increase patient access.

A significant milestone for Triad Life Sciences was the acquisition by MiMedx Group, Inc., a prominent company in the wound care and therapeutic biologics sector. The transaction, which closed in May 2021, was valued at an upfront payment of $22 million, with potential for an additional $10 million in contingent payments tied to regulatory approvals. This acquisition integrated Triad's product portfolio and its intellectual property, including the InnovaMatrix® and an amniotic liquid product, into MiMedx's offerings. This strategic move was intended to expand MiMedx's product line and leverage Triad's innovations in placental-based biologics to better serve the surgical recovery market.