Artimplant grants Biomet the right to new indications and at the same time renegotiates current rotator cuff agreement Västra Frölunda, Sweden, November 9, 2007 The biomaterials company Artimplant has granted the American company Biomet Sports Medicine the global, non-exclusive right to market Artelon® Tissue Reinforcement for a further four indications. At the same time, the previously exclusive rotator cuff agreement has been made non-exclusive. In September, the implant's FDA clearance for reinforcement of the shoulder rotator cuff was extended to also include tendons in, and linked to, the knee, upper arm, front thigh muscle and heel. Following renegotiation of the previously exclusive agreement, Artimplant now has the opportunity, alongside Biomet, to exploit Artelon® Tissue Reinforcement for all cleared areas of use worldwide. Biomet also receives the right to sell a product specifically designed for Achilles rupture, which is the largest market after rotator cuff repair. Biomet markets and sells Artelon® Tissue Reinforcement under the name SportMesh™ Soft Tissue Reinforcement. CEO Hans Rosén says: "With the new agreement Biomet can address a considerably larger market than before. At the same time, Artimplant regains the opportunity to globally market Artelon® Tissue Reinforcement on the large rotator cuff market with a better profit margin.” Kevin Stone, V.P. Operations, Biomet Sports Medicine says: “Biomet is exited about exploring further marketing opportunities through the expanded indication and is very encouraged by early clinical results from the use of SportMesh™. Our sales force wanted to sell SportMesh™ for any intended indication since it saw the positive clinical outcome from the first rotator cuff patients treated with Artelon®.” Artelon® Tissue Reinforcement is an implant intended for use as reinforcement together with sutures in surgical procedures on patients with serious injuries or poor soft tissue quality. The implant offers additional initial mechanical strength and at the same time functions as a degradable scaffold for the ingrowth of the body's native tissue. For further information, please contact: Hans Rosén, CEO, phone +46 (0)31-746 56 00, +46 (0)708 58 34 70, hans.rosen@artimplant.com Lars-Johan Cederbrant, CFO, phone +46 (0)31-746 56 54, +46 (0)703 01 68 54, lars-johan.cederbrant@artimplant.com Web site: www.artimplant.com About Artimplant Artimplant is a biomaterials company focused on solutions to problems in orthopedic and oral surgery. We restore health through the development, production, and marketing of degradable implants that regenerate body functions and improve quality of life. Our products, made from Artelon®, meet unmet clinical needs and are marketed in a growing number of therapy areas. Artimplant produces implants for treatment of osteoarthritis in hands and feet, for shoulder and other soft tissue injuries as well as oral applications. Artimplant is a public company listed on the OMX Nordic Exchange Stockholm in the Small Cap segment and in the healthcare sector. Forward-looking statements This press release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.
Artimplant grants Biomet the right to new indications and at the same time renegotiates current rotator cuff agreement
| Source: Artimplant AB