ParaNano Wound Care, LLC: Company Profile

Background

ParaNano Wound Care, LLC is a pre-clinical MedTech company founded in 2018 and based in Oklahoma City, Oklahoma. The company specializes in developing and commercializing advanced wound care solutions, notably the Bio-Z™ Smart Bandage. ParaNano holds exclusive, worldwide patent rights to foundational nanofiber and biosensor technologies licensed from the University of Central Oklahoma and the University of Manitoba. Their mission is to address critical gaps in wound care by providing real-time, continuous infection detection, empowering both clinicians and patients to intervene early and improve outcomes.

Key Strategic Focus

ParaNano's strategic focus centers on the development of the Bio-Z™ Smart Bandage, a flexible nanofiber membrane that visually changes color upon detecting pathogenic activity. This innovation aims to provide continuous, non-invasive monitoring of wound infections without the need for wires, batteries, or cumbersome devices. The primary objective is to enable early intervention, reducing complications such as hospitalization, antibiotic overuse, sepsis, amputation, and death. The target market includes healthcare providers and patients managing chronic wounds, with potential applications across various medical settings.

Financials and Funding

ParaNano has secured significant funding to advance its Bio-Z™ Smart Bandage technology. In November 2024, the company was awarded a $500,000 grant from the Oklahoma Center for the Advancement of Science and Technology (OCAST) to establish a robust manufacturing infrastructure and complete the FDA pathway for the Bio-Z™ Smart Bandage. Additionally, in July 2025, ParaNano secured a $3 million Direct to Phase II Small Business Innovation Research (SBIR) contract from the Defense Health Agency (DHA) and the Military Burn Research Program (MBRP) to advance the Bio-Z™ Smart Bandage for traumatic burn wounds.

Pipeline Development

ParaNano's primary pipeline candidate is the Bio-Z™ Smart Bandage, currently in the pre-clinical stage. The company is focused on refining the design for use in traumatic burn injuries, conducting rigorous pre-clinical evaluations, scaling production under Good Manufacturing Practice (GMP) standards, and building evidence for consistent performance. The anticipated timeline for these milestones is within the next 24 months, with the goal of making the Bio-Z™ Smart Bandage available to healthcare providers in 2026.

Technological Platform and Innovation

ParaNano's technological platform is centered around the Bio-Z™ Smart Bandage, which utilizes a flexible nanofiber membrane that reacts to pathogenic activity by changing color. This design allows for continuous, non-invasive monitoring of wound infections without the need for electronic devices. The color change serves as a visual indicator of infection, enabling early intervention and potentially reducing complications associated with delayed detection.

Leadership Team

Chelsea Luxen: CEO and Co-founder. Chelsea led ParaNano to a second-place finish in the 2015 Donald W. Reynolds Tri-State Collegiate Business Plan Competition and has been instrumental in the company's growth and development.

Maurice Haff: CTO and Co-founder. Maurice has been a key figure in developing ParaNano's nanofiber technologies and has collaborated with the New Product Development Center at Oklahoma State University to create specialized electrospinning equipment for nanofiber production.

Ronald Scott: CMO and Wound Care Advisor. Ronald provides expertise in wound care, advising on the clinical applications and effectiveness of ParaNano's products.

Leadership Changes

As of the latest available information, there have been no significant changes or appointments within ParaNano's leadership team.

Market Insights and Competitor Profile

The advanced wound care market is a significant segment within the global healthcare industry, with a valuation of approximately $5.2 billion worldwide in 2008. This market encompasses various treatment alternatives, including wound and antimicrobial dressings, active therapies, and negative pressure wound treatment.

ParaNano operates in a competitive landscape with several key players:

Smith & Nephew plc: A global medical technology company offering a range of advanced wound care products.

Medline Industries, Inc.: A privately held manufacturer and distributor of medical supplies, including wound care products.

ConvaTec Group plc: A global medical products and technologies company specializing in wound care, ostomy care, continence, and critical care.

Mölnlycke Health Care AB: A Swedish medical device company providing wound care and surgical products.

3M Company: An American multinational conglomerate corporation offering a wide range of products, including advanced wound care solutions.

Integra LifeSciences Holdings Corporation: A global leader in regenerative technologies and neurosurgical solutions, including wound care products.

These competitors have established market presence and offer a variety of wound care solutions. ParaNano differentiates itself by focusing on continuous, non-invasive infection detection through its Bio-Z™ Smart Bandage, aiming to provide real-time, actionable insights without the need for electronic devices.

Strategic Collaborations and Partnerships

ParaNano has engaged in strategic collaborations to advance its technology:

Oklahoma State University's New Product Development Center (NPDC): Collaborated to create specialized electrospinning equipment for nanofiber production.

Oklahoma Center for the Advancement of Science and Technology (OCAST): Provided a $500,000 grant to support the development of the Bio-Z™ Smart Bandage.

University of Central Oklahoma and University of Manitoba: Licensed foundational nanofiber and biosensor technologies.

Operational Insights

ParaNano's operational strategy focuses on developing a unique product that addresses a significant gap in the wound care market—continuous, non-invasive infection detection. By leveraging nanotechnology, ParaNano aims to provide a solution that is easy to use, requires minimal training, and can be utilized across various care settings, including rural and austere environments.

Strategic Opportunities and Future Directions

ParaNano's strategic roadmap includes:

Product Development: Advancing the Bio-Z™ Smart Bandage through pre-clinical validation and scaling production under GMP standards.

Regulatory Approval: Completing the FDA pathway to bring the product to market.

Market Expansion: Targeting healthcare providers and patients managing chronic wounds, with potential applications in military and civilian settings.