During the COVID-19 pandemic, healthcare-associated infection (HAI) rates spiked to a five-year high in hospitals and have remained high, according to one nonprofit group.
Clean tech company BioLargo Inc. (BLGO:OTCQB) said its subsidiary, Clyra Medical Technologies, has developed a product to help fight the problem using complex copper and iodine technology.
"Clyra technology causes the instantaneous release of a powerful yet safe antimicrobial agent in measured doses when it is mixed by water from any source, including a wound exudate," Clyra notes on its website.
It can be delivered in multiple formats: a liquid, a dry solution, a hydrogel, or embedded in a pad, the company said.
"Clyra's products can be used by wound care centers, hospitals, nursing homes, urgent care clinics and home healthcare, in military applications, and by consumers," the company said.
The Catalyst: 'Life or Death' for Some Patients
The three HAIs that are increasing are Methicillin-resistant Staphylococcus aureus (MRSA), central line-associated bloodstream infections (CLABSI), and catheter-associated urinary tract infections (CAUTI), according to The Leapfrog Group, a nonprofit group pushing for patient safety.
According to the group's study, over the last five years the average CLABSI infection ratio increased by 60%, the average MRSA infection ratio increased by 37%, and the average CAUTI infection ratio increased by 19%.
"The dramatic spike in HAIs reported in this Safety Grade cycle should stop hospitals in their tracks — infections like these can be life or death for some patients," said Leah Binder, president and chief executive officer of The Leapfrog Group. "We recognize the tremendous strain the pandemic put on hospitals and their workforce, but alarming findings like these indicate hospitals must recommit to patient safety and build more resilience."
The study said 32 out of 50 states saw a significant increase of CLABSI, with the biggest increase in West Virginia.
"Not only are HAIs among the leading causes of death in the U.S., they also increase length of hospitalization stays and add to costs," Binder said. "Our pre-pandemic data showed improved HAI measures, but the spring 2023 Safety Grade data spotlights how hospital responses to the pandemic led to a decline in patient safety and HAI management."
BioLargo President and Chief Executive Officer Dennis Calvert said, "There's a gap in that market, and we're going to fill it."
'Invent It, Prove It, Partner It'
BioLargo's innovations also address industrial and pet odors, treat wastewater, improve energy efficiency, and control infections and infectious diseases.
It really is four commercial companies: BioLargo Energy, BioLargo Equipment, ONM Environmental, and Clyra Medical Technologies, all supported by the corporate office, its engineering group, and a research and development team.
BioLargo's approach is to invent or acquire novel technologies and develop them into products that solve problems and lead to profits.
"Our strategy is pretty basic: invent it, prove it, and partner it," Calvert said. "And we have gotten multiple platform technologies in cycle with a couple of commercial endeavors under our belt and more coming."
The company recently announced its revenues year-to-date were US$5.288 million, a 127% increase over the same period last year, largely due to its Pooph pet odor control product, which has been a surprise for the company.
During the first six months of 2023, the company has already achieved about 88% of last year's revenues (US$5.9 million).
Made by BioLargo subsidiary ONM Environmental and sold by partners at Ikigai, Pooph is finding success at Walmart stores and online at Amazon and now Chewy.com, with more than 12 major retailers now rolling out the product to their stores.
Its availability is expected to go from approximately 2,000 stores as of June 30, 2023, to more than 20,000 retail stores as contracts continue to expand through the end of 2023.
Pooph destroys odors instantly on a molecular level and is clear, odorless, and non-staining while remaining "safe for people, pets, and the planet," the company said.
Pooph is "a very exciting product line," Calvert said.
"We secured the supply chain agreement as the manufacturer (and) we licensed technology with a very discreet, specific license focused on pet odor control, and we bargain for 20% of the brand exit, eventually, when Pooph decides to exit and sell their company," he said.
Co. Seeking National Channel Partnership
Clyra technology releases a powerful, yet safe antimicrobial agent in measured doses when mixed with water, the company said.
Its copper-iodine ion complex technology neutralizes pathogens with no harmful effects on other tissues.
In 2008, the U.S. Environmental Protection Agency recognized copper as the first antimicrobial metal. Iodine can kill fungus, bacteria, and other microorganisms such as amoebas.
"Clyra products may solve many of the concerns that exist with current wound care and related products, and it can be potentially positioned in all segments of healthcare," the company said.
Clyra is currently seeking a national channel partnership with a distributor for the product. An independent sales force has been assembled as well, Calvert said.
"Based on our estimates, we believe that the projected success of Pooph, alongside the current valuation of Clyra Medical, provides investors with underlying support and a conservative degree of upside, while the diverse array of technologies within BioLargo's portfolio offers investors an interesting 'call option,' if you will," wrote Oak Ridge Financial analyst Richard Ryan last month while initiating coverage on BioLargo.
Ryan gave the stock a Buy rating with a target price of US$0.35 per share. On Friday afternoon, it was at US$0.171.
Forever Chemicals
Another of BioLargo's technologies takes on "forever chemicals," or Per- and polyfluoroalkyl substances (PFAS), which are long-lasting chemicals that break down very slowly over time and persist in people, animals, food, and the environment. Millions of Americans have them in their drinking water and manufacturers are facing massive lawsuits.
"BioLargo’s patented AEC (Aqueous Electrostatic Concentrator) technology is one of the few commercially available technologies," wrote Singular Research analyst Michael Mathison, who gave the stock a Buy-Venture rating with a US$0.28 per share target price.
Technical Analyst Clive Maund of CliveMaund.com wrote that PFAS lawsuits could be a "powerful catalyst" for the company's stock.
Streetwise Ownership Overview*"Clearly, if even one of the defendants turns to BioLargo to address clearing up this mess, it should be a Big Deal for the company," he wrote.
Ownership and Share Structure
About 14.6% of BioLargo is owned by insiders and management, according to Yahoo Finance. They include Chief Science Officer Kenneth Code with 8.67%, CEO Calvert with 3.41%, and Director Jack Strommen with 1.5%, Reuters reported.
About 0.04% is held by the institution First American Trust, Reuters said.
The rest, about 85%, is retail.
Its market cap is US$49.26 million, with about 288 million shares outstanding and about 247 million free-floating. It trades in a 52-week range of US$0.267 and US$0.15.
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- BioLargo Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of BioLargo Inc.
- Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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