CARLSBAD, Calif., April 11, 2007 (PRIME NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), a leading medical device company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, announced today that it has entered into a license agreement with Roger P. Jackson, M.D. for the global rights to use certain polyaxial screw, helical flange, and instrumentation technology designed by Dr. Jackson. The technology license enables Alphatec to rapidly develop a second-generation polyaxial pedicle screw system that will be manufactured via a proprietary bottom-loaded process. Terms of the agreement, which were not disclosed, include royalties on net sales of products incorporating the licensed technology.
"After a thorough review of the current intellectual property landscape in the polyaxial screw arena, rigorous product testing and multi-faceted focus group feedback, we are extremely pleased with our agreement with Dr. Jackson to license his leading polyaxial screw technology, instruments and methodologies," stated M. Ross Simmonds, Senior Vice President and Chief Operating Officer of Alphatec. Simmonds added, "This global license agreement further demonstrates our commitment to providing complete product solutions targeted at serving the needs of the spinal disorder marketplace and enables our surgeon customers to have additional technology options while utilizing Alphatec as their trusted spinal medical device partner."
"I am very pleased to have entered into a license agreement with Alphatec Spine, one of the recognized leaders in the development, manufacture, and marketing of products for the surgical treatment of spine disorders," said Dr. Jackson. "This polyaxial screw technology will enable surgeons to have additional product and technology options in surgery and I am confident that Alphatec is a superbly equipped partner to deliver this technology to the surgeon community and their patients."
The polyaxial screw technology exclusively licensed by Alphatec incorporates a bottom-loaded cam-capture manufacturing process embodied in a pending patent application and certain other proprietary technology owned by Dr. Jackson. Alphatec also acquired the non-exclusive rights to use the helical flange technology developed by Dr. Jackson in conjunction with the polyaxial screw. The helical flange technology pertains to the set screw of the polyaxial screw and contains the proprietary elements embodied in US Patent No. 6,726,689.
About Alphatec
Alphatec is a medical device company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders. As of December 31, 2006, Alphatec had 18 issued U.S. patents, one issued foreign patent and 24 pending patent applications, including sixteen pending U.S. applications, four pending international applications and four pending foreign national applications. Alphatec's principal product offerings are primarily focused on the U.S. spine fusion market, which is estimated to approach $4 billion in 2007, through its wholly-owned subsidiary, Alphatec Spine, Inc., and include a variety of spinal implant products and systems comprised of components such as spine screws, spinal spacers, and plates that offer multiple solutions to address patients' needs. In addition to Alphatec's U.S. presence, it also participates in the Japanese spine disorder and orthopedic trauma markets through its subsidiary, Alphatec Pacific, Inc. Alphatec's mission is to be a values based leader in the spinal device market by providing unmatched service to and taking scientific direction from its surgeon customers. Alphatec does so through its unique in-house manufacturing facility in Carlsbad, California that allows it to respond quickly to surgeon needs and to customize innovative products needed for spine fusion surgery.
The Alphatec Holdings, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3520
Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainty. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Alphatec cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: Alphatec's ability to maintain its level of previously reported sales growth, Alphatec's ability to develop and expand its spine fusion business in the United States and Japan, Alphatec's ability to rapidly manufacture a second generation bottom-loaded polyaxial pedicle screw, via the license agreement with Dr. Jackson or otherwise, Alphatec's ability to expand and maintain a successful sales and marketing organization, continuation of favorable third party payor reimbursement for procedures performed using our products, unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec's ability to achieve profitability, uncertainty of additional funding, uncertainty of success in developing any new products, failure to successfully introduce and develop new products, including products related to license agreements, failure to obtain FDA clearance or approval for particular devices, including its second-generation polyaxial pedicle screw, Alphatec's ability to compete with other competing products and with emerging new technologies within and outside of spinal fusion, product liability exposure, patent infringement claims and claims related to our intellectual property. Please refer to the risks detailed in Alphatec's Form S-1 on file with the SEC, as well as the risks detailed from time to time in Alphatec's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.