Imbed Biosciences
Bringing better wound care to the world
Imbed Biosciences expands its international presence
Founded by scientists and surgeons at the University of Wisconsin-Madison, Imbed Biosciences is a leading provider of advanced wound care devices. The Madison-based company developed Microlyte® Matrix technology for the management of complex wounds. Their products have the ability to improve patient outcomes while also reducing the cost of care for wound healing. International sales are a strong component of the company’s plans for increasing its market value and the impact of its innovations.
The company chose Colombia as one of the first markets to focus on in these growth plans, since that nation offers automatic recognition to devices cleared by the U.S. Food and Drug Administration (FDA). After selling more than 100,000 units of Microlyte Matrix in Colombia (resulting in $2.5 million in sales revenue) in 2023, the company is expanding medical device registrations and establishing distribution contracts in other countries that also accept FDA clearance: Saudi Arabia, the United Arab Emirates, Qatar, South Africa, Mexico, Panama, and Chile. Imbed holds more than 12 worldwide patents in European and Asian locations as well as the U.S.
Expanding worldwide for greater patient impact
The company grew its international sales as a percentage of total sales from 21% in 2021 to a projected 32% in 2024. Its percentage of employees for international business grew from 18% in 2021 to 24% in 2022, 36% in 2023, and a projected 49% for 2024.
The company has demonstrated a commitment to humanitarian efforts, donating more than 20,000 units of Microlyte Matrix during FY24 for management of wounds in Gaza, Ukraine, and Afghanistan.
Recognizing success and envisioning future growth
Ankit Agarwal
For its accomplishments in international growth and impact, Imbed Biosciences was honored with the Governor’s Export Achievement Award in 2024.
“Receiving this award is a testament to our team’s dedication to innovation and excellence,” said Ankit Agarwal, Ph.D., founder and chief scientific officer of Imbed Biosciences. “With the support of WEDC, we’ve been able to expand into new international markets and make a meaningful impact in health care globally. Since our company was born from university research, our success highlights the importance of Wisconsin’s designation as a Regional Technology Hub, which will help retain talent, drive innovation, and position the state as a leader in biohealth technology exports.”
