-
Companies Will Collaborate on New Stem Cell-Based Allograft
Orthofix International N.V. (NASDAQ: OFIX) (the Company) announced today
that it has signed agreements with the Musculoskeletal Transplant
Foundation (MTF) to collaborate on the final development and
distribution of a stem cell-based allograft.
“We are extremely excited about this agreement
with MTF,” said Orthofix’s
CEO Alan Milinazzo. “They are the largest,
most prestigious tissue bank in the United States, with a track record
of working with global orthopedic companies to bring new treatments to
surgeons around the world. Additionally, we believe this new stem
cell-based bone growth matrix will further differentiate our broad
portfolio of spine products.”
Under the terms of the agreements Orthofix will fund a milestone based
program to develop a bone growth matrix that will be designed to provide
beneficial properties comparable to an autograft in spinal and
orthopedic surgeries. After the successful completion of the development
process, Orthofix and MTF will work together in accordance with a
separate commercialization agreement.
Bruce Stroever, CEO of MTF, stated, “We are
pleased to be working with Orthofix to develop a stem cell based tissue
form. This is a new area for MTF that helps us fulfill our mission to
supply life changing grafts for transplant that are derived from the
gift of human tissue.”
Under the terms of the agreement MTF will focus on the procurement of
donor tissue, the processing of the bone growth matrix, and the
fulfillment of orders received. Orthofix has exclusive global marketing
rights for the new allograft, and will receive a marketing fee from MTF.
The Company currently plans for the new matrix to be launched in the
U.S. during the second half of 2009.
Orthofix will discuss this agreement further on the Company’s
second quarter earnings conference call to be held today at 11:00 AM
Eastern. Interested parties may access the conference call by dialing
(866) 626-7622 in the U.S., and (706) 758-3283 outside the U.S., and
providing the conference ID 56580604.
