STOCKHOLM, Sweden, Feb. 25, 2005 (PRIMEZONE) -- Artimplant's Artelon(R) CMC-I Spacer is now launched by Small Bone Innovations, SBI, at the worlds largest Orthopedics meeting -- AAOS -- in Washington DC, USA. SBI is a new orthopedics company formed by merchant bankers Viscogliosi Bros. LLC (VB) in New York, solely focused on solutions for hand, foot, ankle, elbow and shoulder.
During the past year VB has acquired US and European companies and technologies in the "small bone" field. In December 2004 VB made a global licensing agreement through its subsidiary Avanta Orthopaedics with Artimplant AB for the right to market Artimplant's Artelon(R) CMC-I Spacer.
Artelon(R) CMC-I Spacer was cleared by the FDA in September 2004 and represents a biological approach for treating arthritis in the base of the thumb. The agreement originally signed with Avanta Orthopaedics is now valid between Artimplant and SBI.
VB is regarded as a pioneering force in the discovery and development of promising Orthopedic technologies. In 2003, the firm sold its artificial spine disc company, Spine Solutions, Inc., to Synthes, Inc., of Switzerland, for $350 million. The firm has been credited with creating the concept of spine arthroplasty as an alternative to fusion in repairing spinal disc diseases.
As a result of the formation of SBI, VB is now entering the extremity business, an area neglected by the large orthopedic companies.
"A very interesting and for us expected development. We can now see our partner as the obvious market leader in the segment important for enabling a good representation of our Artelon(R) CMC-I Spacer to the market. It is also an advantage that our partner now has a broad portfolio of cleared implants. Today's news does not constitute any change in our earlier communicated revenue assessments" says Tord Lendau CEO Artimplant.
ARTIMPLANT 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 Ulf Akerblom, Vice President, Corporate Development, phone +46 (0)31 746 56 00, +46 (0)709 675 999, ulf.akerblom@artimplant.se'
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