STOCKHOLM, Sweden, Dec. 2, 2004 (PRIMEZONE) -- Artimplant, a Swedish biomaterials and orthobiologics company, and Avanta Orthopedics, a leader in the small joint market specialized in hand surgery, are pleased to announce the closing of a global license, supply and distribution agreement for Artimplant's Artelon(r) CMC-I Spacer, a biological implant for treating arthritis in the base of the thumb. The agreement is application specific. For Artimplant, total revenues from license fee, product sales to Avanta Orthopedics and royalties are estimated to amount to at least SEK 60 million over the next five years.
Artelon(r) CMC-I Spacer was cleared by FDA in September 2004. Avanta Orthopedics will launch the product in the beginning of 2005. In Europe, the product name is Artelon(r) TMC Spacer. In parallel with Avanta Orthopedics, Artimplant will continue to market the product in the Nordic countries.
Arthritis in the base of the thumb has a prevalence of up to 30 percent in women and 10 to 15 percent in men over the age of 50. Clinical trials have shown pain free patients and better grip strength compared to tendon interposition (APL). The main merit of Artimplant's method is that the Artelon biomaterial facilitates the body's ability to heal itself. Another important advantage is that the anatomy of the hand is kept intact, since the joint is not fused and the trapezium is not replaced with autologous tendon.
Tord Lendau, CEO of Artimplant, said: "We are extremely satisfied to have found the partner that will become the world leader in extremities, a rapidly growing market segment. We believe that the partnership will provide a breakthrough for our Artelon material technology. There is a substantial potential for Artelon in many orthopedic applications."
Anthony Viscogliosi, CEO of Avanta Orthopedics, said: "We are very pleased to be able to offer the Artelon(r) CMC-I Spacer to doctors and patients. Thanks to the unique properties of the biomaterial Artelon, this product can revolutionize the therapy landscape for arthritis in the base of the thumb and provide substantial commercial success for both companies. The demand for bioimplants will continue to increase rapidly and we believe that we can add other applications based on Artelon to our portfolio."
Artimplant's mission is to develop novel biodegradable materials and implants that meet the needs of patients, physicians and healthcare providers in orthopedics and other therapy areas. The company works together with global partners as a center of excellence in this development.
Artimplant's vision is to become the partner of choice in biomaterials for hard and soft tissue repair in multiple therapy areas. 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, tord.lendau@artimplant.se www.artimplant.com
Avanta Orthopedics, LLC is a market-leading orthopedic implant manufacturer and marketer based in San Diego, California. Since 1976, the Company has been a U.S. 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.
For additional information on Avanta, please contact: Anthony G. Viscogliosi, CEO, phone +1 212 583 9700 aviscogliosi@vbllc.com www.avanta.org
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