PolarityTE, Inc. hosted the U.S. Department of Commerce as part of the department’s announcement of a new initiative aimed at creating and retaining tens of thousands of U.S. jobs.
PolarityTE was highlighted during Under Secretary for International Trade Gilbert Kaplan’s unveiling of the ReSelect USA initiative during his keynote address at the Department of Commerce’s event, Discover Global Markets: Indo-Pacific.
Secretary Kaplan toured PolarityTE’s research and development labs, as well as its manufacturing facilities in Salt Lake City. The biotech company was founded in Utah less than two years ago with 12 employees, and has now grown to more than 150 employees. PolarityTE’s workforce makes an average wage of more than double the national average, with roughly 75 percent of its employees holding advanced degrees.
“There’s not a workforce anywhere in the world that can do what we can do right here,” Secretary Kaplan said. “You can see why PolarityTE chose Utah to take advantage of the incredible talent, intellectual property protection, and all the other things that make cities like Salt Lake great.”
PolarityTE is a commercial-stage biotechnology company focused on transforming the lives of patients by discovering, designing, and developing a range of regenerative tissue products using a patient’s own tissue to grow skin, bone, and other tissue. “The inspiration for this company came from patients and the limitation of therapies available to them,” said Chief Scientific Officer and Vice President of Research & Development Nikolai Sopko, MD, PhD. “The support that the biotech community in Utah has provided, along with the amazing entrepreneurial spirit here allows us to innovate the way we do.”
Secretary congratulated PolarityTE for its rapid growth that is creating jobs and keeping investments in the United States. PolarityTE also discussed with Secretary Kaplan potential opportunities to serve humanitarian crises, veterans needs, and military medical care.
Discover Global Markets is the U.S. Department of Commerce’s flagship event series for U.S. exporters, bringing together global leaders across the aerospace, defense, and security sectors.