SeaSpine® Announces Exclusive Development and Licensing Agreement with restor3D®
September 24 2019 - 4:05PM
SeaSpine Holdings Corporation (NASDAQ: SPNE), a global medical
technology company focused on surgical solutions for the treatment
of spinal disorders, today announced that it has entered into an
exclusive (field-based) development and licensing agreement with
restor3d, Inc., a privately-held medical device company co-founded
by Ken Gall, Professor of Mechanical Engineering at Duke
University, that specializes in developing 3D-printed implants with
enhanced anatomical fit and superior integrative properties.
Financial terms were not disclosed.
This partnership provides SeaSpine entry into, and an
opportunity to differentiate within, the 3D-printed interbody
space, one of the fastest growing segments in spine.
restor3d’s materials science technology complements SeaSpine's
broad and differentiated orthobiologics portfolio with the goal of
driving both clinical and economic advantages. The parties
plan to develop 3D-printed interbody devices that are designed
specifically for a wide range of surgical approaches.
SeaSpine expects to commercialize its first 3D-printed interbody
devices to be developed under this agreement in the second half of
2020.
"restor3d's well-researched architecture provides a foundation
for novel 3D interbody designs that thoughtfully balance structural
integrity with the biological requirements for bony integration and
fusion,” said Shaeffer Bannigan, Senior Director of Product
Development at SeaSpine. “This foundation allows us to tune implant
properties to optimal performance, merging biomechanical
requirements with biologically favorable materials and
structures.”
Ken Gall, restore3d founder and Director, said, "Our proprietary
three-dimensional structure is the result of years of scientific
research and development in 3D metal printing. Through this
collaboration, we will use science and data to deliver implants
that are intentionally designed for specific interbody fusion
applications."
About SeaSpine SeaSpine (www.seaspine.com) is a
global medical technology company focused on the design,
development and commercialization of surgical solutions for the
treatment of patients suffering from spinal disorders. SeaSpine has
a comprehensive portfolio of orthobiologics and spinal implants
solutions to meet the varying combinations of products that
neurosurgeons and orthopedic spine surgeons need to perform fusion
procedures on the lumbar, thoracic and cervical spine. SeaSpine’s
orthobiologics products consist of a broad range of advanced and
traditional bone graft substitutes that are designed to improve
bone fusion rates following a wide range of orthopedic surgeries,
including spine, hip, and extremities procedures. SeaSpine’s spinal
implants portfolio consists of an extensive line of products to
facilitate spinal fusion in degenerative, minimally invasive
surgery (MIS), and complex spinal deformity procedures. Expertise
in both orthobiologic sciences and spinal implants product
development allows SeaSpine to offer its surgeon customers a
differentiated portfolio and a complete solution to meet their
fusion requirements. SeaSpine currently markets its products in the
United States and in approximately 30 countries worldwide through a
committed network of increasingly exclusive distribution
partners.
Forward-Looking Statements SeaSpine cautions
you that statements included in this news release that are not a
description of historical facts are forward-looking statements that
are based on the Company’s current expectations and assumptions.
Such forward-looking statements include, but are not limited to,
statements relating to: the Company’s ability to differentiate
within the 3D-printed interbody space; its and restor3d’s plans to
develop devices designed specifically for a wide range of surgical
approaches; the timing of commercialization of the first 3D-printed
devices to be developed under the announced collaboration; and the
ability to leverage restor3d’s architecture to tune implant
properties to optimal performance and to use science and data to
deliver implants designed for specific applications. Among
the factors that could cause or contribute to material differences
between the Company’s actual results and the expectations indicated
by the forward-looking statements are risks and uncertainties that
include, but are not limited to: risks inherent in the development
of new medical devices, including as a result of newly initiated
collaborations or the use of nascent manufacturing techniques or
processes; the ability of newly launched products to perform as
designed and intended; unexpected delay, including as a result of
developing and supporting the launch of new products, including the
fact that newly launched products may require substantial
additional development activities, which could introduce further
delay, or as a result of obtaining regulatory clearances; and other
risks and uncertainties more fully described in the Company’s news
releases and periodic filings with the Securities and Exchange
Commission. The Company’s public filings with the Securities and
Exchange Commission are available at www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. SeaSpine
does not intend to revise or update any forward-looking statement
set forth in this news release to reflect events or circumstances
arising after the date hereof, except as may be required by
law.
Investor Relations Contact
Leigh Salvo(415) 937-5402ir@seaspine.com
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