BONESUPPORT™ SIGNS COMMERCIALIZATION AGREEMENT FOR THE FRENCH MARKET
Lund, Sweden, 08.00 CEST, September 7th 2017 – BONESUPPORTTM, an emerging leader in innovative injectable bio-ceramic bone substitute products to treat bone voids caused by trauma, infection, disease or related surgery based on its unique CERAMENT® platform today announces that it has signed an Agency agreement with Novomedics to provide it with local support to initiate access to French market.
Novomedics, which is based in Metz, has significant experience in the bone substitute field. BONESUPPORT’s CERAMENT product line of CERAMENT BONE VOID FILLER (BVF), CERAMENT G and CERAMENT V will be commercialized by a national sales force composed of approximately 40 experienced representatives. These representatives have access to a network of potential customers in the orthopaedic sector. Novomedics is led by its Founder & CEO, Michael Class, MD, a French-trained physician.
This new French commercialization agreement means that BONESUPPORT’s products are now sold in 8 of the key European markets via specialty distributors. In addition, BONESUPPORT markets its products directly in 5 European countries the UK, Germany, Switzerland, Sweden and Denmark. BONESUPPORT has a commercial team of 20 people in Europe to support and drive the Company’s sales growth.
Richard Davies, CEO of BONESUPPORT, commented: “I am pleased that we have been able to sign this Commercialization agreement with Novomedics in order to initiate coverage of the French market for our highly differentiated injectable bio-ceramic bone substitute products. We have been very impressed with their knowledge of the bone substitute market and their strong links with the orthopedic community. We look forward to a mutually beneficial relationship.”
For more information contact:
Richard Davies, CEO
Tel: +46 (0) 46 286 53 71
Björn Westberg, CFO
Tel: +46 (0) 46 286 53 60
Notes to Editors
BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bio-ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void.
BONESUPPORT’s marketed bio-ceramic bone graft substitutes CERAMENT® BONE VOID FILLER (BVF), CERAMENT® G* and CERAMENT® V* are all based on the Company’s novel and proprietary CERAMENT technology platform.
The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot.
BONESUPPORT’s total sales increased from SEK 41 million in 2014 to SEK 105 million in 2016, representing a compound annual growth rate of 60 percent. The Company’s financial target is to achieve revenue exceeding SEK 500 million in the financial year 2020, with a gross margin exceeding 85 percent and a positive operating profit.
The Company’s research and development is focused on the continuing development and refinement of its CERAMENT technology to extend its use into additional indications by the elution of other drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
BONESUPPORT is listed on Nasdaq Stockholm and trades under the ticker “BONEX” (ISIN code: SE0009858152). Further information is available at www.bonesupport.com
*CERAMENT G: Not available in the United States, for investigational use only. CERAMENT V: Not available in the United States
BONESUPPORT™ and CERAMENT® are registered trademarks.