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PRESS RELEASES
Contacts: Anthony G. Viscogliosi, Viscogliosi Bros., LLC (212) 583-9700
ext. 101
Brian Ruby, Creative Partners (203) 705-9218 cell: (203) 545-3422
SMALL BONE INNNOVATIONS INKS NEW LICENSING AGREEMENTS WITH SWEDEN’S
ARTIMPLANT TO DEVELOP AND MARKET FOUR NEW ARTELON® SPACERS FOR ARTHRITIS
TREATMENT
New York, NY - October 25, 2005 – Small Bone Innovations LLC (SBI),
has entered into four new exclusive global licensing agreements with
Artimplant AB, a Swedish biomaterials and orthobiologics company, to
develop and market four new spacer implants for treating osteoarthritis
in small bones and joints using Artimplant’s Artelon® biomaterials
platform.
The four new agreements expand significantly the SBI-Artimplant licensing
relationship.
SBI had earlier agreed on a global marketing license for the Artelon®
Spacer CMC-I, a biodegradable implant for treating osteoarthritis at
the base of the thumb, a condition prevalent among patients over the
age of 50, especially women.
Anthony G. Viscogliosi, Chairman & CEO of SBI, said: “These
spacer implants are designed to help the body heal itself. The unique
properties of Artelon® implants are now being recognized by U.S.
surgeons, as they have been elsewhere in the world, as a promising early-stage
treatment of osteoarthritis in the thumb. Based on this experience,
these surgeons see great potential for treating degenerative joints
of the wrist and forefoot.”
As a result, Artimplant has now granted to SBI exclusive licenses related
to the use of Artelon® biomaterial for certain new applications
in the small bones and joints of the upper and lower extremities. These
exclusive rights have been extended to:
- Artelon® STT Spacer – a spacer for osteoarthritis in the
scaphotrapezotrapezoidal joint of the hands;
- Artelon® Arthroscopic CMC-I Spacer – intended for arthroscopic
implantation in the thumb base joint;
- Artelon® DRU Spacer – intended to treat osteoarthritis
in the distal radio-ulnar joint of the wrist;
- Artelon® MTP Spacer – intended to treat osteoarthritis
in the metatarsophalangeal joints of the foot.
These indications have not yet been cleared for use in the U.S.
Tord Lendau, CEO of Artimplant, said: “SBI is a strong partner
for Artimplant because of its goal to become the world leader in the
surgical treatment of small bones and joints, a segment of the orthopedic
market that is growing rapidly.”
Initially, it is planned that Artimplant will develop the four new products
in addition to the Artelon® Spacer CMC-I. The CMC-I received a 510(k)
clearance for sale in the U.S. by the FDA in September 2004 and, according
to SBI, is being used by more than 50 hand surgeons across the country.
Terrence O’Donovan, MD, a prominent Glen Burnie, Maryland hand
surgeon who has completed the most Artelon“ Spacer CMC-I implants
so far, in the U.S., said: “The post-operative effect of the spacer
on patients has been significant pain reduction and a marked increase
in function – or pinch strength. These results are very encouraging
although it will require years before reaching any clinical conclusions.”
Alejandro Badia, MD, a leading hand surgeon based in Miami, Florida,
who together with Dr. O’Donovan, conducted a skills workshop for
surgeons at the annual American Society for Surgery of the Hand (in
San Antonio, TX, Sept. 22-24) noted that: “The use of tissue-sparing
technology holds immense promise in treating basal thumb osteoarthritis
that particularly afflicts women – predominantly peri-menopausal.
We believe that procedures capable of restoring function are a compelling
alternative in lieu of drug therapy or more aggressive surgical procedures
that are currently performed.”
Mr. Viscogliosi said: “The principal feature of Artelon® technology
is the material’s proven biocompatibility. By preserving the bony
anatomy of the hand, the Artelon® Spacer CMC-I buffers the bone-on-bone
contact consistent with osteoarthritic joint degeneration.
“This outcome is central to our philosophy of supporting surgeons
and technologies whose object is to restore motion and functionality
– thereby enhancing the patient’s quality of life. It also
reflects our policy of working closely with surgeons who share our desire
to foster innovation designed to restore function by preserving as much
natural tissue as possible and not simply eliminating pain,” Viscogliosi
added.
Michael Simpson, President and COO of SBI, said: “During the nine
months that surgeons in the U.S. have been implanting the Artelon®
Spacer CMC-I, it has become evident that the material has potential
well beyond the treatment of basal thumb osteoarthritis. For us to help
develop these new applications, we are delighted to have negotiated
these new agreements with Artimplant.”
About SBI
Small Bone Innovations, LLC was founded in 2004 by Viscogliosi Bros.,
LLC, (VB), the New York-based merchant banking firm that specializes
in the musculoskeletal /orthopedic sector. VB created SBI as the first
company to focus purely on small bone & joint science. By integrating
established companies and professionals in the field, SBI today offers
a broad, clinically proven portfolio of products and technology to treat
trauma and diseases in small bones & joints.
VB’s acquisitions and technology licenses include: Avanta
Orthopaedics (hand/wrist/elbow arthroplasty and trauma products
– USA); Envision (implant manufacturing –
USA); Actipore™ (porous metal technology –
Canada); Artelon ®(biologically active & biodegradable
technology – Sweden); Xtremi-T (resorbable trauma
technology – USA); and Fixano, S.A.S. (broad
line of small bone & joint implants - France).
For more information on SBI visit: www.totalsmallbone.com
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 financing and developing.
For more information visit: www.vbllc.com
About Artimplant AB
Artimplant is a public company based in Västra Frölunda, Sweden
and is listed on the Stockholm Exchange, O-list. Artelon® is a degradable
polyurethane-urea patented biomaterial that acts as a temporary support
for healing tissue. 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
or visit: www.artimplant.com
Forward-looking statements
This press release contains forward-looking statements as defined in
the U.S. Private Securities Litigation Reform Act of 1995. Readers are
cautioned not to place undue reliance on these forward-looking statements.
Actual results may differ materially from those indicated by these forward-looking
statements as a result of risks and uncertainties impacting the Company's
business including increased competition; the ability of the Company
to expand its operations and to attract and retain qualified professionals;
technological obsolescence; general economic conditions; and other risks.
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