Celularity receives HCPCS Q code approval from U.S. CMS for Biovance 3L

Celularity announced that the U.S. Centers for Medicare & Medicaid Services, CMS, has granted a Healthcare Common Procedure Coding System, HCPCS, Q code for Biovance 3L, a tri-layer allograft derived from placental tissue intended for use as a biological membrane covering barrier or wrap that acts as a scaffold for restoration of functional tissue in partial- and full-thickness, acute and chronic wounds. “The HCPCS Q code approval by CMS further recognizes Biovance 3L as an important therapeutic option for the treatment of wounds,” said Dr. Robert Hariri, M.D., Ph.D., Celularity CEO, chairman and founder. “The medical community has been rapidly adopting this product, and the HCPCS Q code approval paves the way for Biovance 3L to realize additional growth, enabling the potential to impact more lives. As one of our leading biomaterial products, we are excited about the potential impact this approval may have on Celularity’s performance throughout the remainder of 2024 and beyond. We will continue to innovate in this important part of our business and look forward to providing future updates.”