Avita Medical, which produces the "spray on" skin originally developed by Dr Fiona Wood to treat burns, says the technology has shown positive results in an early trial to treat chronic venous leg ulcers.
Avita said on Wednesday that in a trial involving 52 patients in the United Kingdom and France, wounds treated with Avita's ReGenerCell product became smaller and healed faster.
Patients treated with ReGenercell also reported a significant drop in pain levels after two weeks of treatment.
The company said the results indicate that ReGenerCell could be an effective treatment for healing chronic wounds that have resisted other approaches.
In the UK, 1.65 per cent of the population aged over 65 years have venous leg ulcers.
"Venous leg ulcers tend to be a hidden epidemic, because patients are largely immobile and unseen in their homes," Avita's vice-president of research and technology, Andrew Quick said.
"We believe this positive data demonstrates that our treatment approach could become a frontline therapy."
Avita will include the results of the pilot trial in talks with regulators in the US and Australia on the next steps for developing ReGenerCell as a treatment for venous leg ulcers.
Avita's regenerative products are based on the cells and wound-healing factors taken from a small sample of the patient's skin.
The products can be used to restart healing in unresponsive wounds, to repair burns using less donor skin, and restore pigmentation to skin.
Shares in Avita were 0.2 cents lower at 9.8 cents on Wednesday.
