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PRESS RELEASES
Contacts: Anthony G. Viscogliosi, Viscogliosi Bros, LLC (212) 583-9700
ext. 101
Chris Storer, EKK PR (203) 705-9219
AVANTA LICENSES SWEDISH HAND IMPLANT TECHNOLOGY - FOLLOWS FDA APPROVAL
FOR ARTELON® CMC-I SPACER
New York, NY: December 2, 2004 - Avanta Orthopedics, LLC, a San Diego-based
company owned by Viscogliosi Bros., LLC (VB), has agreed with Artimplant,
a Swedish biomaterials and orthobiologics company to license Artimplant’s
newly available bioabsorbable implant technology.
Avanta Orthopedics (Avanta) is a leader in the US small joint market
specializing in upper extremity surgery. The specifics of the agreement
include the global license, supply, and distribution rights for Artimplant’s
Artelon® CMC-I Spacer, a resorbable implant for treating arthritis
at the base of the thumb.
The Artelon® CMC-I Spacer was cleared for sale by the US FDA in
September 2004. Avanta plans to launch the product in the US at the
beginning of 2005. Artimplant will continue to market the product in
the Nordic countries under its existing Artelon® TMC Spacer designation.
Arthritis in the base of the thumb is prevalent in up to 30 percent
in women and in 10-15 percent in men over the age of 50. According to
Artimplast, clinical trials have shown pain free patients and better
grip strength compared to tendon interposition (APL), the current standard
of care.
The principal feature of Artimplant’s Artelon® technology
is the material’s ability to facilitate the body’s self-healing
processes. Secondarily, the anatomy of the hand is preserved since the
joint is not fused and the trapezium is not replaced with autologous
tendon.
Anthony Viscogliosi, CEO of Avanta Orthopedics and principal of VB,
said: “The implant is designed to help the body heal itself. The
unique properties of the biomaterial, Artelon®, promise to revolutionize
the therapy landscape for arthritis in the base of the thumb. The demand
for bio-implants is increasing so rapidly that we intend to explore
other applications based on Artelon® to supplement our portfolio
of truly life-changing technologies.”
Tord Lendau, CEO of Artimplant, said: “We are delighted to have
found a partner capable of becoming the world leader in the high growth
potential market for treating orthopedic extremities. The US market
represents a huge breakthrough opportunity for Artelon®-based technology
in a variety of applications.”
Mr. Lendau noted that Artimplant’s mission is to develop innovative
biodegradable materials and implants that meet the needs of patients,
physicians and healthcare providers in orthopedics and other therapy
areas.
“We are working with several global partners at centers of excellence
in this field
to become the partner of choice in biomaterials for hard and soft tissue
repair in multiple therapy areas,” he added.
About VB
VB is a New York-based, closely held venture capital, private equity,
and merchant banking firm focused on the musculoskeletal/orthopedics
industry. VB acquired Avanta in October of this year for an undisclosed
sum.
For more information please visit: www.vbllc.com
About Avanta
Avanta Orthopedics, LLC is a market-leading orthopedic implant manufacturer
and marketer based in San Diego, California. Since 1976, the Company
has been a US market leader dedicated to developing surgeon-innovated
implants for the hand and upper extremity markets. Working alongside
leading surgeons worldwide, Avanta has developed innovative products
to treat orthopedic pathologies of the hand, wrist, and elbow.
Further information is available at: www.avanta.org
About Artimplant
Artimplant is a public company, listed on the Stockholm Exchange, O-list.
For additional information, please contact: Tord Lendau, CEO, phone
+46 (0)31 746 56 00, +46 (0)708 369 403, email: tord.lendau@artimplant.se,
Web site: www.artimplant.com
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