CHICAGO, March 20 /PRNewswire/ -- OsteoBiologics, Inc. (OBI), an innovator in tissue repair technologies, and Alphatec Spine, Inc. (Alphatec), a vertically integrated spinal device company, announced today that they have signed an agreement under which Alphatec will have the exclusive U.S. marketing and distribution rights for certain spine products manufactured from OBI’s PolyGraft(R) material technology. The Alphatec products will be available in a variety of forms for use in bone void filling applications in the spine, especially in the cervical and lumbar regions of the spine. “We are especially pleased to have Alphatec as our spinal application partner for our versatile PolyGraft(R) resorbable scaffold technology. The spine represents the most significant market opportunity for bone void filling products and we look forward to working with Alphatec to establish and validate the role resorbable polymer based scaffolds can play in spinal surgery,” said Fred Dinger, President and CEO of OBI. “Alphatec Spine’s success has been due to the company’s innovative approach to taking direction from the surgeon community and is a result of our focus on providing superior service to the physician. Our partnership with OBI represents another affirmation of this strategy by providing physicians with an opportunity to use OBI’s innovative scaffold technology in conjunction with Alphatec’s spinal implants. The addition of OBI’s product suite to our current line of allograft products, demonstrates the priority Alphatec has placed on providing state of the art biomaterials for spinal surgery,” said Ronald G. Hiscock, President and Chief Executive Officer of Alphatec. The announcement coincides with OBI’s and Alphatec’s participation at the American Academy of Orthopedic Surgeons Annual Meeting in Chicago, IL.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031002/OBILOGO )
About OsteoBiologics, Inc.
OBI, located in San Antonio, Texas, is a private company that develops and manufactures bioabsorbable polymeric scaffolds, films, and related instrumentation for the repair and replacement of bone, soft tissue and articular cartilage. Its products are based on proprietary and patented technologies covered by U.S. and foreign patents. The PolyGraft(R) product and related scaffold formulations are protected under U.S. Patent Nos. 5,716,413, 6,511,511 and other patents pending. The Company is focused on commercializing and further developing its platform technologies in arthroscopy and sports medicine. Additionally, OBI is actively forming strategic alliances with companies serving other areas of medicine such as spine, trauma, general orthopedics, extremities, and wound care to leverage its technologies into those markets.
About Alphatec Spine, Inc.
Alphatec Spine, Inc. believes that it is distinguished among independent spinal implant companies because it manufactures, engineers and prototypes all its own products. In 2005, the company changed its name from Alphatec Manufacturing to Alphatec Spine, to reflect its fifteen-year evolution from a contract medical device manufacturer to a vertically-integrated spinal device company. Alphatec believes that it gains a competitive advantage by focusing on research and development, in combination with a unique ability to design, manufacture, and customize it portfolio of spinal implant devices and related instrumentation. Alphatec has approximately 190 employees and is located in Carlsbad, CA. In March 2005, Alphatec was purchased by a group of investors led by the New York private equity firm HealthpointCapital Partners, LP.
This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Although both OBI and Alphatec believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by either OBI or Alphatec or any other person that the objectives and plans of either OBI or Alphatec will be achieved. By making these forward-looking statements, neither OBI nor Alphatec undertakes an obligation to update these statements for revisions or changes after the date of this release.
For more information, please contact Daniel Lee, OsteoBiologics, Inc., (210) 690-2131 or Vicki Romanoski, Alphatec Spine, Inc., (760) 431-9286.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031002/OBILOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk photodesk@prnewswire.comOsteoBiologics, Inc.; Alphatec Spine, Inc.
CONTACT: Daniel Lee, Director of Marketing of OsteoBiologics, Inc.,+1-210-690-2131, or daniel.lee@obi.com ; or Vicki Romanoski of AlphatecSpine, Inc., +1-760-431-9286
Web site: http://www.obi.com/
