A human platelet lysate preparation that contains human plasma is provided. This preparation can be generated from human platelets by concentrating and washing them under defined conditions to control the degree of human plasma present. The washed platelet concentrate is then subjected to a freeze-thaw cycle to produce platelet lysate which is centrifuged and filtered through 0.65μ, 0.45μ and 0.2μ filters, aliquoted and stored frozen at <−20° C. until thawed for use. This invention describes the novel finding that the controlled addition of human plasma to the lysate preparation significantly enhances the cell growth potency of the lysate preparation. This lysate can be used as a media supplement to replace fetal bovine serum (FBS) or other non-human serum additives used for the culture of mammalian cells. This invention also describes the formulation and use of the lysate preparation as a topical application for skin care, and wound healing, including anti-wrinkling, anti-scarring and wound resolution applications of the invention.