SAN DIEGO, CA--(Marketwire - 02/10/11) - NuVasive, Inc. (NASDAQ:NUVA - News) and AlloSource, partners in the cellular allograft market for use in orthopedic surgical applications, announced today that AlloSource has licensed from NuVasive certain intellectual property related to bone growth products containing endogenous mesenchymal stem cells (MSCs). The license and royalty agreement will enable AlloSource to distribute its recently-introduced allograft cellular product, AlloStem®. The agreement includes restrictions against AlloSource distributing into the spine market with a major partner other than NuVasive. AlloSource currently processes Osteocel® Plus for NuVasive.
A joint statement was issued by NuVasive and AlloSource as follows: "This license agreement strengthens the relationship between our organizations and further validates the strength of the allograft stem cell intellectual property held by NuVasive. Our partnership in the distribution of Osteocel Plus, which is processed by AlloSource for NuVasive, has been very positive. We are collectively excited about the research being conducted by our companies to advance tissue processing techniques and we look forward to our continued leadership in this market."
NuVasive is a medical device company focused on developing minimally disruptive surgical products and procedures for the spine. The Company is the 5th largest player in the $7.7 billion global spine market.
NuVasive's principal product offering is based on its Maximum Access Surgery, or MAS® platform. The MAS platform combines four categories of products that collectively minimize soft tissue disruption during spine surgery with maximum visualization and safe, easy reproducibility for the surgeon: a proprietary software-driven nerve avoidance system; MaXcess®, a unique split-blade retractor system; a wide variety of specialized implants; and several biologic fusion enhancers. MAS significantly reduces surgery time and returns patients to activities of daily living much faster than conventional approaches. Having redefined spine surgery with the MAS platform's lateral approach, known as eXtreme Lateral Interbody Fusion, or XLIF®, NuVasive has built an entire spine franchise. With over 65 products today spanning lumbar, thoracic and cervical applications, the Company will continue to expand and evolve its offering predicated on its R&D focus and dedication to outstanding service levels supported by a culture of Absolute Responsiveness®.
AlloSource is a non-profit company that offers more than 200 precise bone, skin, soft-tissue and custom-machined allografts for use in an array of life-saving and life-enhancing medical procedures. As the world's leader in fresh cartilage tissue used for joint repair and skin allografts to heal severe burns, AlloSource has grown into one of the largest tissue networks in the country with more than 300 employees. It is the world's largest processor of live cellular bone growth substitutes and delivers unparalleled expertise and customer service to its growing network of surgeons, partners and the country's most reputable organ procurement organizations. As one of the leading innovators in maximizing tissue donation with the goal of offering optimal solutions for healthcare providers and their patients, AlloSource is recognized by the medical community for its ability to process and provide high quality tissue. The company is accredited by the American Association of Tissue Banks (AATB) and is headquartered in Centennial, CO. For more information, please visit allosource.org.
NuVasive cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause NuVasive's results to differ materially from historical results or those expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to: the risk that NuVasive's revenue or earnings projections may turn out to be inaccurate because of the preliminary nature of the forecasts and the risk of further adjustment, or unanticipated difficulty in selling products or generating expected profitability; the uncertain process of seeking regulatory approval or clearance for NuVasive's products or devices, including risks that such process could be significantly delayed; the possibility that the FDA may require significant changes to NuVasive's products or clinical studies; the risk that products may not perform as intended and may therefore not achieve commercial success; the risk that competitors may develop superior products or may have a greater market position enabling more successful commercialization; the risk that additional clinical data may call into question the benefits of NuVasive's products to patients, hospitals and surgeons; and other risks and uncertainties more fully described in NuVasive's press releases and periodic filings with the Securities and Exchange Commission. NuVasive's public filings with the Securities and Exchange Commission are available at www.sec.gov. NuVasive assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
Michael J. Lambert
EVP & Chief Financial Officer
Patrick F. Williams
Vice President, Finance & Investor Relations
Director of Marketing
Marketing Communications Specialist