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 excited 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.