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In December, IMULAN struck a deal with T-Cyte Therapeutics Inc. of San Diego, which is developing a new class of proteins that control stem cell functions. These proteins enable animals to use their own adult stem cells to repair damaged or diseased tissue.

Together, the companies plan to develop and commercialize a treatment for the feline leukemia virus. T-Cyte will manufacture the product, while Imulan will focus on technical services, clinical trials and product distribution.

Woods had been with Phoenix-based Farnam Cos. Inc. for seven years as vice president of development, conducting clinical trials for animal treatments. He left Farnam in 2006 to work briefly with a stem cell company before starting Imulan.

He also worked with another local biotech scientist, Chad Kennedy, to test drops to treat dry eye in dogs.

Robert Eaton, president and CEO of the Arizona BioIndustry Association, said serial entrepreneurs with experience at other companies are critical to the growth of the industry.

"When an entrepreneur has been there and done that, I think the new company has a much greater chance of success," Eaton said.

Although Imulan and TR BioSurgical will focus solely on veterinary medicine, their work will contribute greatly to human health, Woods said.

"In the process of doing this, if we can help out people, particularly in diseases that have been largely ignored, it makes me sleep well at night," he said. "I've been in biomaterials, tissue regeneration technology for 12 years, and I've never seen anything like this. We already have the global animal health rights to it."

TR BioSurgical also is working in partnership with an unnamed out-of-state company focusing on healing bone fractures and chronic, nonhealing wounds. Woods said he is planning to unveil the technology next month at the Veterinary Orthopedics Society, showing other vets how he can repair fractures in animals without using any drugs or tissue growth factors.

"It's a scaffold the body perceives as unstructured material," he said. "When we put that into adult tissue, it provokes an interesting response -- a response described as fetal-like repair mechanisms. This is so far ahead of the curve, it makes bone proteins and growth factors out there kids' play."

The unnamed partner is developing the technology on the human side, while Woods is focusing on animals.

All seven Imulan employees have day jobs. They are running the company out of 600 square feet of office space in Woods' home.

"I'm converting over to full time," he said. "It is rapidly becoming a reality now."

After nearly four years of research and development, Woods said it's time to start generating some revenue.

"This is the first in a big pipeline that we're going to be introducing," he said, adding that he hopes to have a second series of products out by late this year or early next year.

"It's taken three years to do the licensing and trials," he said. "Holy cow, three and a half years, and no one has earned a salary."

He's not willing to share how much he and his partners have invested into the company.

"Looking at our sweat equity, financial contributions, it's tremendous," he said. "We've had a lot of sleepless nights. I haven't had a vacation in a couple of years and no day off in a couple of years."

But he said it's all worth it.

"We're still operating in the red, but we believe that time is over," he said. "This year (we're) going to be doing quite well."

Get Connected:
IMULAN BioTherapeutics Inc.: www.IMULAN.com
TR BioSurgical LLC: www.trbio.com