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PRESS RELEASES
Contacts: Anthony G. Viscogliosi, Viscogliosi Bros, LLC (212) 583-9700
ext. 100
Nick Kilsby, Creative Partners (203) 705-9202
VISCOGLIOSI BROS., LLC MAKES EQUITY INVESTMENT IN BIORTHEX, INC.
New York, NY: February 21, 2005 - Viscogliosi Bros., LLC (“VB”)
is pleased to announce a substantial equity investment in Biorthex,
Inc (“Biorthex”). Biorthex, based in Montreal, Canada, is
an orthopedic focused, biomaterial platform provider that designs, develops,
manufactures and markets an innovative technology, Actipore™.
Actipore™, an innovative porous nitinol with excellent biological
and biomechanical properties, is utilized as both an implant coating
and as a total implant material. Actipore’s lattice-like structure
permits bone cell penetration, long-term bone cell survival, and overall
bone-metal integration. A low modulus of elasticity, closely resembling
that of cancellous bone, and unique super-elasticity characteristics,
as well as MRI and CT scan compatibility, make the ActiporeTM a much-needed
addition to the armatarium of orthopedic surgeons.
Through Actipore™, Biorthex owns a unique, ultra porous biologically
and biomechanically compatible material, with a structure consisting
of interconnected passageways, that permits long term bone cell integration
and survival throughout the devices. This exclusive technology platform
has similar mechanical properties to bone, resulting in load sharing,
rapid tissue ingrowth that eliminates the requirement for additional
bone graft material, thus reducing the time of surgery, the risk of
complications and preventing graft site morbidity.
To date there have been more than 1,000 implantations world-wide utilizing
Actipore™, three clinical studies (plus one ongoing study) have
been initiated, and more than 25 pre-clinical studies have been performed.
The first product that utilized the technology, the Actipore™
PLF System, first implanted in December 2001, was a proprietary, technologically
advanced interbody fusion device indicated for lumbar fusion procedures.
Biorthex recently launched a second Actipore™ product for cervical
fusions, the ActiporeTM ACF System.
The new funds will be used primarily to commercialize these products
and further develop Actipore in surface coating applications. In the
latter form, it is believed that Actipore will become a platform technology
available for a wider range of orthopaedic devices and implants.
Anthony G. Viscogliosi, Principal of VB, said: "We at VB have always
focused on investing in life-changing orthopedics technologies. Biorthex’s
Actipore™ technology certainly meets these criteria and we look
forward to working with the Company to develop its commercial strategy
and expand Actipore™ to other fields of orthopedics.”
About Biorthex, Inc.
Biorthex Inc. is a biotechnology company that designs, develops, manufactures
and markets innovative and proprietary surgical products for the treatment
of spinal disorders. The Company is dedicated to providing the surgical
community with safe, technologically proven and innovative spinal implants
for use in the treatment of spinal disorders, diseases and injuries.
For more, please visit: www.biorthex.com
Contact: Benoit Sicotte
President and COO
Biorthex, Inc.
(514) 382-4800
About Viscogliosi Bros., LLC
Established by Marc R. Viscogliosi, John J. Viscogliosi and Anthony
G. Viscogliosi in New York City in 1999, VB was the first venture capital/private
equity and merchant banking firm dedicated to the musculoskeletal/orthopedics
sector of the health care industry. Today, VB is a leading independent
firm with a mission to create, build and finance companies founded on
innovations developed by surgeons and uniquely focused on "life
changing" musculoskeletal/orthopedic technologies. VB has worldwide
surgeon, industry and trade relationships and significant financial
expertise in the musculoskeletal/orthopedic sector.
As principals of VB, the Viscogliosi brothers have a combined total
of more than 35 years experience analyzing and investing in the musculoskeletal/orthopedics
sector. The have pioneered innovative financial, strategic and management
initiatives for companies in the sector, from start-up, seed and development
stage all the way to exit, while helping thousands of people lead better
lives through the orthopedic and spinal products marketed and sold by
the companies they have assisted in developing and financing.
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