BioLab Sciences Inc. has been named Bioscience Company of the Year by the Arizona Bioindustry Association (AZBio), which cited the emerging Scottsdale firm’s leadership and innovations in regenerative therapies and wound care.
The honor is part of the Arizona organization’s annual AZBio Awards, which were announced during Arizona Bioscience Week last week.
“The team at BioLab Sciences has come together around a shared vision to promote healing and improve the quality of life for people who suffer from all kinds of wounds,” AZBio president and CEO Joan Koerber-Walker said in a statement. “This commitment and the significant progress they are making towards their goals is why BioLab Sciences is the 2021 Arizona Bioscience Company of the Year.”
The regenerative biotech company earned praise for developing new ways to help the body heal itself. Its wound-care products include its flagship MyOwn Skin product, which takes a small sample of a patient’s own skin through a nonsurgical procedure and uses it to produce skin grafts.
That treatment — which is used for chronic, non-healing wounds and also burns — received billing approval from the U.S. Centers for Medicare and Medicaid Services in 2019, which gave the company a significant boost at the time.
The company says it also works on products related to orthopedic injuries, pain management, aesthetic medicine, respiratory ailments, cardiovascular indications, ophthalmic issues and more.
BioLab Sciences CEO Bob Maguire said the award was truly an honor for the company he co-founded in 2018 with four employees and whose workforce has since grown to 70.
“Our vision for BioLab Sciences from day one has been to build a platform to help people create a better quality of life for themselves,” Bob Maguire, CEO and co-founder BioLab Sciences, said in a statement. “For the past three years, we’ve been heads down, developing leading-edge alternative therapies and building the infrastructure to support the rapidly growing demand. It’s truly an honor to have that work, and our amazing team, recognized by such a renowned organization as AZBio.”
The company projects it will grow to more than 100 employees by the end of 2021. Its products are used in hospitals, clinics and practices across the country and have been used on more than 700 patients in the U.S.
It also says it has seen 843% annualized growth over the past three years, and it is looking to expand outside the U.S.
BioLab Sciences was the winner of the Phoenix Business Journal’s Small Business Awards in 2020 in the Small Category, and Maguire was an Innovator finalist in the PBJ’s Health Care Heroes 2020 awards.
