Xtant Medical Enters Into Licensing Agreement For Sites Medical’s Osteosync Ti Technology
BELGRADE, Mont., May 16, 2017 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE MKT:XTNT), a leader in the development, manufacturing and marketing of orthopedic products for domestic and international markets, today announced it has entered into a licensing agreement with Sites Medical LLC, for utilization of their proprietary OsteoSync™ Ti technology, a best-in-class porous titanium scaffold.
"We are very excited to work with Sites Medical," said Carl O'Connell, CEO of Xtant Medical. "As market dynamics shift towards emerging titanium technologies, Sites Medical’s OsteoSync Ti technology places us firmly at the forefront of this trend. This technology exhibits great synergy with our entire line of spinal implants further enhancing the value of this relationship as well as Xtant’s potential impact in its core market."
"We are thrilled to be partnering with Xtant Medical, a company with a rich history of innovation in the spine field," said Greg Stalcup, President/CEO of Sites Medical. "We look forward to working with the Xtant team to combine our respective technologies to deliver a new generation of high performance, high value products to the market."
OsteoSync Ti technology is a highly porous titanium scaffold designed to meet the needs of today’s patients from both clinical and economic standpoints. Its high friction coefficient ensures high initial implant stability and its open pore geometry and micro-texturing facilitate superior bone ingrowth. Preclinical testing has demonstrated bone attachment strength nearly twice that of titanium plasma spray and approximately seven times that of PEEK material at the 5-week follow up period, a performance differential that can impact clinical outcomes, especially in spinal fusion patients. OsteoSync Ti technology has also been engineered to reduce the potential for abrasion debris generation during implant insertion, offering an additional measure of safety for the patient. The material is manufactured using highly innovative methods and offers substantial value in today’s cost-conscious healthcare environment.
Utilizing Q2 Metrics data, Xtant Medical estimates the total addressable US market for its technologies that can utilize OsteoSync Ti at $2.5B with a 5 year CAGR approaching 4.75%. Xtant Medical’s first devices to utilize the technology will be featured at this year's NASS annual meeting to be held on October 25-28 in Orlando, FL.
About Xtant Medical Holdings
Xtant Medical Holdings, Inc. (NYSE MKT:XTNT) develops, manufactures and markets class-leading regenerative medicine products and medical devices for domestic and international markets. Xtant products serve the specialized needs of orthopedic and neurological surgeons, including orthobiologics for the promotion of bone healing, implants and instrumentation for the treatment of spinal disease, tissue grafts for the treatment of orthopedic disorders, and biologics to promote healing following cranial, and foot and ankle surgeries. With core competencies in both biologic and non-biologic surgical technologies, Xtant can leverage its resources to successfully compete in global neurological and orthopedic surgery markets. For further information, please visit www.xtantmedical.com.
About Sites Medical
Sites Medical has recognized the shift in healthcare reimbursement paradigms and is entirely focused on Value-Driven Innovation in orthopedics. With its suite of proprietary orthopedic implant technologies and manufacturing process improvements, Sites aims to deliver improved clinical outcomes and reduced cost to all stakeholders. SITES can further serve the needs of its OEM partners through its Concept-to-Launch capability, where we conduct all necessary R&D activity and use state-of-the-art manufacturing equipment and techniques to deliver the highest quality product. Additional information about the company can be found at www.sitesmedical.com.
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