- Orthofix obtains exclusive global licensing rights for novel
expandable vertebral body replacement device
Orthofix International N.V. (NASDAQ: OFIX) (the Company) announced today
that the Company has signed a License and Product Development Agreement
with Stout Medical Group, LP for the development and marketing of a new
expandable vertebral body replacement (VBR) and corpectomy device.
“Our agreement with Stout Medical is expected to allow us to provide a
treatment for the tumor and trauma segment of the spinal market and give
our surgeon customers a novel expandable corpectomy implant,” said Alan
Milinazzo, President and CEO of Orthofix International. “Stout has a
proven history of developing novel implant designs for the spinal
market, and we are pleased to partner with them to commercialize their
design.”
The initial term of the agreement is for 15 years, and gives Orthofix
exclusive global licensing rights to the new device, which is expected
to be introduced during the second half of 2010. According to a recent
market research report the U.S. market for VBR devices is currently
estimated to be approximately $77 million, with the expandable device
segment growing the fastest at approximately 12%.
“We are delighted to partner with Orthofix Spinal Implants on the
development and marketing of our very novel expandable VBR device,” said
Tom Molz, President and CEO of Stout Medical Group.
The new device will be designed for use in corpectomy procedures during
which one or more vertebral bodies are removed in connection with the
removal of a tumor or due to a trauma to the spine. Expandable
corpectomy devices provide in situ expansion, eliminate the need to cut
the device to a specific size, and provide the surgeon with options for
less invasive incisions.
About Orthofix
Orthofix International, N.V., a global medical device company, offers a
broad line of minimally invasive surgical, and non-surgical, products
for the spine, orthopedic, and sports medicine market sectors that
address the lifelong bone-and-joint health needs of patients of all
ages–helping them achieve a more active and mobile lifestyle. Orthofix’s
products are widely distributed around the world to orthopedic surgeons
and patients via Orthofix’s sales representatives and its subsidiaries,
including BREG, Inc. and Blackstone Medical, Inc., and via partnerships
with other leading orthopedic product companies.
