Vexim And Stryker EMEA Announce Exclusive Distribution Agreement for Germany, United Kingdom, Austria, and Ireland
7/20/2009 12:23:29 PM
Toulouse, July 20, 2009 – As part of its development strategy, Vexim, a company specializing in medical instruments and the minimally invasive anatomical treatment of vertebral compression fractures, and Stryker EMEA (European organization of the American company Stryker Corp (NYSE:SYK) a global leader in medical technology) today announced the signature of an exclusive distribution agreement for Germany, the United Kingdom, Austria and Ireland.
"The results of our Europe-wide clinical studies have demonstrated the SpineJack®'s safety and efficacy. Our scientific approach is now bearing fruit, with signature of an exclusive distribution agreement with a market leader”, underlined Bruce de la Grange, Vexim's Chairman and CEO.
“This exclusive contract gives us access to one of the largest and best sales forces in the market - notably in Germany. This deal with Stryker reinforces our position and our development strategy consisting of securing exclusive distribution agreements with key players in every market we enter", emphasized Vincent Lefauconnier, Vexim's Chief Commercial Officer.
“Building on our existing presence in Vertebroplasty, SpineJack® allows us to extend our footprint in the expanding market for the treatment of vertebral compression fractures with a new, innovative solution. Initial results and response from surgeons lead to the expectation that this concept will have significant market impact” stated David Halliday, Vice President Spine and Biotech, Stryker EMEA.
Under the terms of the agreement, Stryker will be responsible for SpineJack® sales & marketing in Germany, the United Kingdom, Austria and Ireland via its specialized Spine and Interventional Spine sales forces. With support from Vexim, Stryker will also deliver customer training in the use of the products in the target territories. The SpineJack® is aimed at trauma surgeons, orthopedic and spine surgeons, neurosurgeons and interventional radiologists and should start to become available in the markets cited through Stryker's sales network from August 2009 onwards.
To date, the treatment of vertebral compression fractures primarily consisted of relieving the patient's pain and seeking to restore post-trauma vertebral height. Vexim's objective has been to develop a more comprehensive concept for treating these pathologies, with full anatomical restoration of the vertebra. This approach offers better overall treatment of the damage, since it seeks to correct all the various vertebral dimensions (including those of the vertebral endplate) and thus leave the patient with a vertebra that is as similar as possible to its original shape.
About the SpineJack® implant
The SpineJack® is a titanium implant (5 mm in diameter and 25 mm in length) which is inserted into a patient's vertebra via a transpedicular, minimally invasive approach (just one or two 5 mm skin incisions). A simple but specialized set of instruments is used to prepare the vertebra for the X-ray-
guided insertion of one or two implants, depending on the anatomical configuration of the fracture and the degree of reconstruction required. Once this step has been completed, bone cement is injected into the restored vertebra in order to secure the vertebral structure and relieve the patient's pain. A trained surgeon needs only 20 to 30 minutes to complete the whole procedure. The patient can expect a very significant reduction in pain immediately after the operation and will generally be discharged from hospital one or two days later.
The Toulouse-based hi-tech company Vexim was incorporated in February 2006, with support from Truffle Capital and subsequent investment from Banexi Ventures. In 2007, the company also received a conditional advance from Oséo (the French state innovation agency). As an innovative medical technology company, Vexim specializes in minimally-invasive solutions for treatment of the causes and consequences of vertebral damage. It has notably developed the SpineJack® - a system for controlled anatomical repair of vertebral compression fractures. The company currently has a headcount of 20 and expects this figure to rise to 25 by the end of 2009. For more information about Vexim, please visit www.vexim.fr.
Stryker Corporation is one of the world's leading medical technology companies with the most broadly based range of products in orthopedics and a significant presence in other medical specialties. Stryker works with respected medical professionals to help people lead more active and more satisfying lives. The company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; biologics; surgical, neurologic, ear, nose & throat and interventional pain equipment; endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment. For more information about Stryker, please visit www.stryker.com.