STOCKHOLM, Sweden, Nov. 21, 2005 (PRIMEZONE) -- Artimplant, the Swedish biomaterials company, has developed a product for rotator cuff reinforcement that has been cleared for marketing in Europe through CE-mark. The rotator cuff is located in the shoulder and is made up of four muscles and their tendons. The product will be launched by Arthrotek Inc., a Biomet company, under the name of Sportmesh(tm).
CEO Tord Lendau says; "Time from idea to approved product have taken eleven months and is another proof of how we have transformed Artimplant from a research organization to a product development and marketing company with the Artelon(r) biomaterial as the platform. Our more than seven years of very well documented clinical data of Artelon(r) speeds up development, approval and introduction of new products based on the unique long-term degradable biomaterial. Sales are expected to commence in Europe early 2006. Artimplant will receive its second milestone payment from Biomet when regulatory approval is achieved both for Europe and USA. Over the next five to six years this product should generate revenues for Artimplant of at least SEK 30 million."
The Artelon(r) based Sportmesh(tm) adds additional strength
In addition to using sutures or suture anchors for primary repair of rotator cuff tears, patients with extensive injury or poor tissue quality will benefit from additional support by applying the Artelon(r) rotator cuff reinforcement patch. The patch offers additional initial mechanical strength and provides a degradable scaffold that is incorporated into the patients own tissue. The long-term support from the degradable patch should increase long-term strength and minimize the risk of re-rupture. With the Artelon(r) rotator cuff reinforcement patch, tissue irritation related to animal derived materials is eliminated.
Kevin Stone, VP Operations at Arthrotek;
"Sportmesh(tm) constitutes a new generation synthetic rotator cuff reinforcement patch which augments the immediate mechanical strength of the repair. The implant provides a scaffold that could minimize the risk for re-ruptures, providing secure repair and fewer re-operations."
Common condition
Several million patients seek medical care each year due to soft tissue conditions. These conditions may be surgically rehabilitated. Currently more than 300,000 rotator cuff surgeries are performed each year in the USA. Rotator cuff tear is a common cause of pain and disability.
The rotator cuff is located in the shoulder and is made up of four muscles and their tendons. It helps to lift and rotate the arm and to stabilize the ball of the shoulder within the joint.
Artelon(r) -- a unique biomaterial
Sportmesh(tm) is made of Artelon(r), a unique long-term degradable biomaterial that acts as a temporary scaffold to facilitate formation of new host tissue. Due to its versatility and unique combination of properties -- long-term degradation, mechanical properties similar to human tendons and excellent biocompatibility in hard and soft tissue -- Artelon(r) offers new solutions to unmet clinical needs in several therapy areas.
Artimplant has also posted the following press releases the last four months on www.artimplant.com
Artimplant and ArthroCare Corporation sign distribution agreement for North America Artelon(r) nanofibers successfully used as coating on metal implants Artimplant signs four new development and license agreements with Small Bone Innovations Artimplant receives CE-mark for Artelon(r) Surgical Suture Artimplant expands its long-term degradable Artelon(r) Surgical Suture product range New study shows that Artelon(r) works as a dermal filler Artimplant expand the field of application for Artelon(r) Artimplant employs Ms. Susanne Hamilton as Product Manager Odontology Artimplant appoints Lars-Johan Cederbrant as Chief financial Officer Electrospinning of Artelon(r) in collaboration with IFP Research and Chalmers University of Technology expand the opportunities for Artimplant Artimplant boosts its commercial base through CE-mark for two new products within odontology and craniomaxillofacial surgery
About Artimplant
Artimplant is a biomaterials company focused on solutions to problems in orthopedic, odontological and reconstructive surgery. The Company is engaged in the development, production and marketing of degradable implants designed to restore active lifestyles and improve quality of life. The proprietary technology Artelon(r), a long-term degradable biomaterial, offers new solutions to unmet clinical needs and opens new markets. Artimplant's business model is that of licensing its products and technology to global partners. The Company currently has six licensing agreements with two global partners. Artimplant is a public company, listed on the Stockholm Stock Exchange, O-list.
About Biomet
Biomet, Inc. and its subsidiaries design, manufacture and market products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy. The Company's product portfolio encompasses reconstructive products, including orthopedic joint replacement devices, bone cements and accessories, and dental reconstructive implants; fixation products, including electrical bone growth stimulators, internal and external orthopedic fixation devices, craniomaxillofacial implants and bone substitute materials; spinal products, including spinal stimulation devices, spinal hardware and orthobiologics; and other products, such as arthroscopy products and softgoods and bracing products. Headquartered in Warsaw, Indiana, Biomet and its subsidiaries currently distribute products in more than 100 countries.
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 detailed from time to time in the Company's filings.
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