STOCKHOLM, Sweden, Nov. 18, 2003 (PRIMEZONE) -- Artimplant has its first product cleared by FDA. The company's Artelon(TM) Surgical Suture has been approved for marketing in the US. The decision was announced late Monday night.
"The decision represents an important breakthrough in our effort to reach the North American market. Our biomaterials technology and applications in orthopedics will most certainly receive more attention, and our discussions with potential partners will be raised to another level," says Tord Lendau, CEO of Artimplant.
"As our biomaterial -- Artelon(TM) -- has been cleared and accepted for the suture, we will now file for additional applications. First is Artelon(TM) Spacer CMC-I, which is developed to treat thumb base arthritis. The product is CE-marked and has three years clinical follow up data," says Tord Lendau.
Artelon(TM) Surgical Suture is made from Artimplant's fiber technology. Product development is in an advanced stage and further development is pending financing and license deals including specified requirements based on clinical needs.
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ARTIMPLANT
Artimplant is a biomaterial company that focuses on orthopedic surgery solutions. The company runs R&D operations for biodegradable implants and develops manufacturing processes for the implants. Its goal is to enable active lives. Artimplant's biomaterial is based on a new technology that's opening new markets within orthopedic surgery and closely related areas that have extensive med-tech needs.
Artimplant developed and patented several different degradable ligament implants that are now in clinical trials. The company's business concept is to license products and technologies to global partners.
The Artimplant stock is listed on the Stockholm stock exchange's O list.
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