How Bengaluru-based Axio Biosolutions Saves Lives With Shrimp Bandages
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Blenders Pride Reserve Collection presented Entrepreneur India’s 35Under35 2020 list which included some leading names from the field of entrepreneurship and Leo Mavely made it to the coveted list.
A personal experience with a bike accident completely changed the life of bio-engineering student Leo Mavely. A motorbike commuter, who had been hit by a bus, was bleeding profusely when the thought of introducing a product—that could help stop excessive bleeding—occurred to him. Axiostat is applied to an open wound, reacts with the blood and becomes a sticky substance that clots blood and helps stop bleeding. Once the patient has been given medical attention, Axiostat can be removed by the application of water. Axiostat is ready to use and can be cut to suit different wound sizes.
“Our biggest customers are the Indian Army and Paramilitary Forces who are using Axiostat for bullet and blast injuries. We currently cater to over 260 battalions includingthe BSF, NSG and paramilitary forces, among others. Today, Axiostat is a defacto product in military kits,” Mavely informs.
The company has expanded its state-of-the-art manufacturing facility at Gujarat Pharma Techno Park in Ahmedabad, to a capacity of over a million units annually. With this, it became the largest chitosan medical sponge manufacturer globally.
With a wide range of innovative offerings spanning pre-hospital, intra-operative and post-operative clinical needs, Axio Biosolutions’ purpose is to make meaningful impact in the surgical and wound care space globally through its patented Chitosan-based technology. “Soon, we also will be launching our products direct to consumers for emergency trauma use,” Mavely reveals.
2014: Axio Biosolutions started supplying to the Indian Armed Forces.
2015: Having received Series A funding from Accel and IDG Ventures, the company ventured into dental and cardio-vascular segments.
2017: Axiostat was granted patents. Soon after, it received Series B Funding from Ratan Tata’s UC-RNT Capital, Accel and IDG Ventures.
2019: MaxioCel, a ‘first of its kind’ woundcare product, was launched to accelerate healing for patients suffering from chronic wounds, such as pressure ulcers, diabetic foot ulcers, to name a few.A rolled gauze was also created with chitosan, a polymer derived from the shells of shrimp, crabs and other crustaceans, to stop bleeding in minutes.
2020: With Axiostat receiving USFDA (US Food and Drug Administration) clearance, it is all set to enter the US market this year.
(This article was first published in the February 2020 issue of Entrepreneur Magazine. To subscribe, click here)