BONESUPPORT APPOINTS JERRY CHANG AS EXECUTIVE VICE PRESIDENT OF RESEARCH & DEVELOPMENT
Lund, Sweden, 12.00 CEST, 19 September 2017 – BONESUPPORT™, 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 appointed Dr. Jerry Chang as its Executive Vice President of Research & Development.
Dr Chang has more than 28 years of experience in the research, development and commercialization of medical devices in the orthopedic, regenerative medicine and biomaterials space. He joins BONESUPPORT from Zimmer Biomet Etex, a subsidiary of Zimmer Biomet that develops and commercializes products that address bone repair and regeneration. Etex was acquired by Zimmer Biomet in 2014. Dr Chang has worked for Etex and Zimmer Biomet Etex, as Vice President of Research & Development for over decade.
During that period, Dr Chang has been involved in the development and launch of several bone and fracture healing products, including hardware solutions and curable calcium phosphate. He has also led the development of a number of combination products that contained biologics or cells to promote bone growth.
Prior to Zimmer Biomet Etex, Dr Chang worked at Johnson & Johnson and Bristol-Myers Squibb ConvaTec.
Dr Chang has published over 20 papers and has five issued US patents.
Richard Davies, CEO of BONESUPPORT, commented: “We are delighted to welcome Dr. Chang to the team. We are confident his extensive experience in the creation and development of novel products and their launch worldwide will contribute greatly as we seek to expand our range of products on a global scale.”
Dr. Jerry Chang, commenting on his appointment said: “I am very pleased to be joining BONESUPPORT to lead its R&D activities at this very exciting time for the Company. I have been extremely impressed with the CERAMENT platform given its proven ability to remodel to host bone and to deliver therapeutic agents, such as gentamicin, to protect the healing process. I am looking forward to bringing my significant experience and expertise to drive the development of the Company’s product pipeline, which are designed to deliver the next generation CERAMENT products that will enhance bone growth that are clearly needed to address multiple orthopedic indications.”
For more information contact:
Richard Davies, CEO
Tel: +46 (0) 46 286 53 71
Björn Westberg, CFO
Tel: +46 (0) 46 286 53 60
Citigate Dewe Rogerson
Pip Batty, David Dible, Marine Perrier
+44 (0)20 7282 1022
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.