Alafair Founders: EY Finalists for Revolutionizing Surgical Healing

AUSTIN, Texas – May 28, 2026 – The co-founders of Alafair Biosciences—John Joyoprayitno, Sarah Mayes, PhD, and Dan Peterson, MD—have been named finalists for the prestigious Entrepreneur Of The Year® 2026 Gulf South Award. The recognition by Ernst & Young LLP (EY US) places the Austin-based leadership team in a distinguished class of innovators celebrated for their vision, leadership, and impact on the future of business.

For over a decade, the trio has guided Alafair Biosciences from a university-born concept to a commercial force in the medical device industry. Their company is pioneering advanced soft-tissue healing solutions that are reshaping surgical outcomes. The nomination highlights not only their entrepreneurial spirit but also the profound clinical significance of their work in a competitive and growing market.

"We are honored to be named finalist for Entrepreneur Of The Year®," said President, CEO, and Co-Founder John Joyoprayitno. "This recognition reflects the dedication of our entire team, and our commitment to delivering advanced soft-tissue healing solutions. We're grateful to our employees, customers, and partners who have made this journey possible."

Now in its 41st year, the Entrepreneur Of The Year® award is a globally recognized program that evaluates leaders on criteria including purpose-driven leadership, company growth, financial performance, and long-term value creation. Alafair's journey provides a compelling case study on all fronts.

A New Frontier in Surgical Healing

At the heart of Alafair's success is a fundamental innovation designed to solve a common and debilitating surgical problem: unwanted scar tissue, or adhesions. Following surgery, tissues that are meant to glide smoothly past one another can become tethered, leading to pain, restricted movement, and often the need for revision surgeries. Alafair's proprietary VersaCore™ Hydrogel Technology directly addresses this challenge.

Developed from a combination of high-molecular-weight hyaluronic acid and plant-based alginate, the technology forms a bioresorbable, non-constricting barrier that protects tissues during the critical healing phase. Unlike older solutions derived from human or animal collagen, Alafair's hydrogel is completely synthetic, eliminating variability and potential for adding bulk. It provides a temporary, slick surface for tendons and nerves to glide upon before safely dissolving into the body.

The company has commercialized this platform into two key products. VersaWrap® Hydrogel Sheet is an ultrathin, conformable sheet that surgeons can quickly place over exposed tendons, nerves, and ligaments. It adheres without sutures, providing an immediate protective interface. Building on this success, VersaCoat™ Flowable Hydrogel offers the same protective benefits in a syringe-based format, allowing for precise application in anatomically complex or hard-to-reach areas with minimal tissue manipulation.

Together, these products offer surgeons a versatile toolkit to prevent post-operative tethering across a range of procedures, from the upper and lower extremities to the spine, ultimately empowering them to help patients reclaim natural mobility.

The Architects of Growth: An Entrepreneurial Trio

The nomination for the EY award celebrates the unique synergy of Alafair's founding team, a trio whose combined expertise spans science, medicine, and business. Their distinct backgrounds created the perfect catalyst for translating a laboratory breakthrough into a market-leading enterprise.

Sarah Mayes, PhD, the Chief Scientific Officer, is the co-inventor of the core technology. With a PhD in Biomedical Engineering from The University of Texas at Austin, she leads the company's innovation engine, overseeing everything from R&D and manufacturing to regulatory affairs. Her leadership has been instrumental in securing multiple FDA 510(k) clearances and building a robust intellectual property portfolio.

Dan Peterson, MD, the Chief Medical Officer and a practicing neurosurgeon, provided the initial clinical vision. He first identified the technology at UT Austin and recognized its immense potential to solve real-world surgical challenges, suggesting the pivotal shift toward applications in hand surgery that became a cornerstone of the company's early strategy.

Driving the commercial engine is John Joyoprayitno, President and CEO. A seasoned entrepreneur with over two decades of experience in the medical device industry, he took the helm as CEO in 2021. Under his leadership, Alafair has experienced explosive growth, implemented a scalable commercial strategy, and garnered national recognition for its rapid expansion.

From Lab to Landmark: Charting a Course of Rapid Expansion

The finalist nomination is backed by a track record of remarkable and quantifiable success. Since its founding in 2011, Alafair Biosciences has transitioned from a promising startup to a profitable, high-growth company. The co-founders have successfully scaled the company's commercial footprint, achieving over 40,000 implants of their hydrogel products nationwide.

This surgeon adoption is fueled by a compelling growth story. The company has posted triple-digit revenue growth in recent years, including a 109% increase in 2023, and achieved positive net income and EBITDA for both 2023 and 2024. This performance has not gone unnoticed.

Alafair has been repeatedly featured on the Inc. 5000 list of America's fastest-growing private companies, climbing to No. 574 in 2025 with an impressive three-year revenue growth of 722%. The company's deep roots in its hometown are also evident in its No. 2 ranking on the 2025 Longhorn 100 List of fastest-growing businesses led by University of Texas alumni.

This trajectory has been supported by strategic fundraising, including over $13 million across multiple rounds, which has enabled the company to accelerate commercialization, expand its distribution network by over 60% in 2024 alone, and continue advancing its product pipeline.

Beyond the Nomination: The Broader Impact on Medicine

While the EY Entrepreneur Of The Year® award recognizes business acumen, the true impact of Alafair's work is measured in patient outcomes. By focusing on the preservation of motion, the company's technology has the potential to significantly improve quality of life and reduce the economic burden of reoperations.

Alafair is committed to validating this impact through rigorous clinical science. The company is currently enrolling patients in a prospective, multi-center study known as B.R.A.A.D. ("Better Recovery, Hyaluronic Acid (HA) and Alginate Device"), which is evaluating the use of VersaWrap in Achilles tendon repair. This and other post-market studies aim to formally quantify the benefits that surgeons have been observing in practice for years.

The recognition as finalists places the Alafair co-founders among the top entrepreneurial leaders in the Gulf South region. Regional award winners will be announced during a special celebration in Austin on June 11th. Those winners will then be considered for the national Entrepreneur Of The Year® awards, which will be presented in November at the Strategic Growth Forum®, one of the nation's most prestigious gatherings of high-growth business leaders.