Study ulcer deemed by the investigator to be caused by a medical condition other than venous insufficiency
Study ulcer exhibits clinical signs and symptoms of infection at the screening visit or first treatment visit
Known allergy to the components of the multi‐layer compression bandaging, or cannot tolerate multi‐layer compression therapy
Allergy or sensitivity to iodine or iodide
Study ulcer is suspicious for cancer
Patients with a history of more than 2 weeks treatment with immunosuppressant or who receive such medications during the screening period, or who are anticipated to require such medications during the course of the study
Study ulcer has been previously treated with tissue engineered materials (eg, Apligraf® or Dermagraft®) or other scaffold materials (eg, Oasis, Matristem) within the last 30 days
Study ulcer requiring negative pressure wound therapy or hyperbaric oxygen during the course of the trial
Ulcers on the dorsum of the foot or with more than 50% of the ulcer below the malleolus are excluded
Pregnant or breast feeding
Known history of having Acquired Immunodeficiency Syndrome (AIDS) or with a history known to be infected with Human Immunodeficiency Virus (HIV)
Known uncontrolled Diabetes Mellitus, as measured by an HbA1c >10%
Ulcers that have healed 20% or more during the screening phase
Patients on any investigational drug(s) or therapeutic device(s) within 30 days preceding screening
History of radiation at the ulcer site
Presence of one or more medical conditions, as determined by medical history, including renal, hepatic, hematologic, active auto‐immune or immune diseases that, in the opinion of the Investigator, would make the subject an inappropriate candidate for this ulcer healing study