WEST CHESTER and EXTON, Pa., Aug. 20 /PRNewswire-FirstCall/ -- Synthes, Inc. , a leading global medical device company in the orthopaedic trauma, spine, and cranio-maxillofacial markets, and Kensey Nash Corporation , a leading developer and manufacturer of innovative regenerative medicine products, today announced a strategic agreement for products developed from Kensey Nash’s unique extracellular matrix (ECM) technology.
The ECM products have the benefit of rapid revascularization and are therefore quickly repopulated with cells from the host tissue, ultimately converting into functional living tissue. They are to be used in a wide range of soft tissue reinforcement procedures. Among the many possible applications being examined are abdominal repairs as well as head, neck and chest plastic reconstructions.
“This partnership represents an important milestone in our plans to build upon Kensey Nash’s leadership position as a developer of innovative regenerative medicine products,” commented Joseph W. Kaufmann, President and CEO of Kensey Nash. “Synthes is well respected as a global leader in the medical device industry and we look forward to building a valuable franchise with a series of ECM products,” he concluded.
About Kensey Nash Corporation
Kensey Nash Corporation is a leader in developing, manufacturing and processing resorbable biomaterial products, incorporating its proprietary collagen and synthetic polymer technology. This expertise is used to develop and commercialize its products through strategic partners. The company has an extensive range of products, which are sold in multiple medical markets, including, the cardiology, orthopedic, sports medicine, spine, endovascular and general surgery markets. The company is known as a pioneer in the field of arterial puncture closure, as the inventor and developer of the Angio-Seal(TM) Vascular Closure Device, which is licensed to St. Jude Medical, Inc.
In addition, specifically for Kensey Nash, such differences may result from Kensey Nash’s continued research and development efforts with respect to the endovascular products (including the risk that those efforts will not be successful and that some of the associated milestone payments will not be received), Spectranetics’ success in selling the QuickCat, ThromCat and SafeCross products, Kensey Nash’s success in distributing its products into the marketplace, Kensey Nash’s dependence on four major customers (St. Jude Medical, Arthrex, Orthovita and Spectranetics) and their success in selling Kensey Nash related products in the marketplace, the impact of product recalls and other manufacturing issues, Kensey Nash’s success in its research and development efforts in its cartilage repair and extracellular matrix technologies programs, Synthes’ success in selling Kensey Nash’s extracellular matrix products, the completion of additional clinical trials in both the U.S. and Europe to support regulatory approval of future generations of Kensey Nash’s products and competition from other technologies.
The Companies undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
The securities of Synthes have been offered and sold outside the United States and have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”). Such securities may not be offered, sold or transferred in the U.S. or to U.S. Persons (as defined in the regulations of the Securities Act), except pursuant to a registration statement filed under the Securities Act or under an applicable exemption under the Securities Act. Hedging transactions involving such securities may not be conducted unless in compliance with the Securities Act. The Synthes securities are deemed “Restricted Securities” as that term is defined in Rule 144 under the Securities Act.
SOURCE Kensey Nash Corporation
CONTACT: Gilgian Eisner, Investor Relations, Synthes, Inc., +41 32 720
4745, investor.relations@synthes.com, or Joseph W. Kaufmann, President and
Chief Executive Officer, Kensey Nash, Inc., +1-484-713-2100,
j.kaufmann@kenseynash.com
Web site: http://www.kenseynash.com/
