ETEX Corporation Announces Distribution Agreement with Alphatec Spine
Published: Nov 06, 2009
CAMBRIDGE, Mass., Nov. 5 /PRNewswire/ -- ETEX Corporation, an advanced biomaterials company, announced today a distribution agreement with Alphatec Spine, of Carlsbad, California. Alphatec Spine will market and sell ETEX's proprietary bone graft substitute portfolio on a non-exclusive basis in the United States.
Initial sales and marketing efforts will be focused on EquivaBone®, ETEX's proprietary, certified osteoinductive hybrid bone graft. EquivaBone was the first FDA cleared hard-setting osteoinductive material and is the only osteoinductive bone graft substitute that provides a continuous nanocrystalline calcium phosphate scaffold.
Subsequent to regulatory clearance, Alphatec will market and sell ETEX's novel porous bone graft substitute, CarriGen®. CarriGen is a synthetic bone substitute that utilizes the same proprietary nanocrystalline calcium phosphate technology that is found in EquivaBone. CarriGen is currently under a 510(k) review with the F.D.A., and is not available for sale. As a pure synthetic, CarriGen is designed to set hard, and has compressive strength comparable to that of cancellous bone. CarriGen has high porosity which allows it to absorb saline and/or blood when mixed. Alphatec Spine expects to distribute CarriGen in the United States and Europe in the first half of 2010.
Brian Ennis, President and CEO of ETEX Corporation, comments: "We are quite impressed with Alphatec's team, technology platforms, and extraordinary growth in a challenging economic environment. The breadth and versatility in ETEX Corporation's rapidly expanding orthobiologic portfolio is extremely synergistic with Alphatec's market initiatives. We view this distribution agreement as the first phase of a partnership with substantial upside potential which may evolve into co-development efforts to create novel biologic / hardware solutions designed to optimize clinical outcomes in commonly occurring spinal conditions."
EquivaBone is indicated for use in posterolateral spine fusion, providing Alphatec Spine a novel biomaterial to complement their current spinal hardware focus. EquivaBone is a proprietary combination of osteoinductive Demineralized Bone Matrix (DBM) and ETEX's osteoconductive nanocrystalline calcium phosphate. ETEX is proud to offer the first combination product that is both moldable and injectable and sets hard once implanted. In addition, the osteoinductivity of the DBM is certified after sterilization, by lot, for the entirety of shelf life.
About ETEX Corporation
Established in 1989, ETEX Corporation develops, manufactures and commercializes calcium phosphate-based biomaterials for improved orthopedic clinical outcomes. A leader in bioresorbable bone substitute materials, ETEX focuses on expanding applications through combinations with cells, biologics, or therapeutic agents delivered in minimally invasive and easy to use systems. For more information, visit www.etexcorp.com.
About Alphatec Spine
Alphatec Spine, Inc. is a wholly owned subsidiary of Alphatec Holdings, Inc. (Nasdaq: ATEC - News). Alphatec Spine is a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, primarily focused on the aging spine. The Company's mission is to combine world-class customer service with innovative, surgeon-driven design that will help improve the aging patient's quality of life. The Company is poised to achieve its goal through new solutions for patients with osteoporosis, stenosis and other aging spine deformities, improved minimally invasive products and techniques and integrated biologics solutions. In addition to its U.S. operations, The Company also markets its spine products in Europe. In Asia, the Company markets a broad line of spine and orthopedic products through its subsidiary, Alphatec Pacific, Inc.