A small wound on our farm cost my grandfather his foot.

Doctors heal wounds like his with collagen sheets.

I make the collagen in those sheets.

Parth Shinde. Avenyx Bio, Kobe. Scroll to move through the slides.

Doctors use collagen sheets to heal wounds like his. Companies make these sheets from cows.

$1.6B

Integra sells this a year. It began with one collagen sheet, made from cow tendon.

$127

Medicare pays for each cm² of sheet since 2026. Integra got $27 before.

210 days to FDA clearance for MatriDerm, a collagen wound sheet that matched one already sold.

I make the same collagen from meat by-products. One gram costs me 30 cents.

Meat by-products₹55 a kilo

My processPatent filed. Built in Kobe.

Collagen I. Out today.

Collagen II

Collagen III and V

Elastin

Fibronectin. All next.

$0.30

to make one gram.

93%

gross margin at ₹350 a gram.

<1%

batch to batch, across nine batches.

$250k

for one line. Integra spent $104M on plant in 2024.

Products that use this collagen sell $12.7B each year.

Tap any material, market or company to trace its path. Tap again, or reset, to see all.

$12.7B

Six markets, sized from what sellers report for 2025.Proof: $3.9B of these products already run on native collagen.

From $12.7B today to a $58.5B market.

$34.3BOrthopedics and sports

Stryker, J&J, Zimmer Biomet, Smith+Nephew, Globus. Today I reach $0.5B of it: cartilage and tendon.

$8.3BWound care

Nine sellers, from Solventum to Hartmann. Today I reach $7.7B of it.

$7.4BAesthetics

AbbVie and Galderma. Today I reach $2.1B: fillers and biostimulators.

$5.7BDental

Straumann, Envista, Dentsply Sirona. Today I reach $0.9B: regeneratives.

$2.8BSurgical biomaterials

Baxter and BD. Today I reach $1.2B: hemostats.

Each new material and each new tissue moves me further in. The whole market grew about 4% in 2025, organic, by its sellers' own reports.

2025 revenue each seller reports. Companies that do not report a figure are left out, so this is a floor. Wound care sellers in 2026: US skin substitute makers are falling after the Medicare reset.

Companies that make one collagen material sold for $210M to $2.9B.

$210MRotation Medical

One collagen tendon implant. Smith+Nephew bought it in 2017.

$125M upfront plus up to $85M over five years. FDA cleared it in 2014, three years before.

$1.3BKerecis

Fish skin, a by-product. Coloplast bought it in 2023.

Up to $1.3B, $1.2B upfront. Revenue DKK 510M in the year to Sep 2022, about 17 times. 98% of sales in the US.

$2.9BLifeCell

One tissue sheet, AlloDerm. Allergan bought it in 2017.

KCI first bought LifeCell for $1.7B in 2008, when it made $190.5M a year. Allergan paid $2.9B in 2017, when it made about $450M a year.

Integra began with one collagen plant. I begin with the material.

I get money in two ways. Now, I sell the collagen. Next, I license my process.

Now

I sell the material.

Labs and device makers buy grams. Cash comes in from the first batch.

93% gross margin

Next

I license the process.

Makers run it in their own plants. I earn on every product they sell.

$12.7B a year of products my licensees sell into

With $740k, I build my first line and get it licensed.

Today, collagen. Next, every native material in the body.

Parth Shinde. parth@avenyx.bio