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PRESS RELEASE
Orthofix in Agreement with Berkeley Advanced Biomaterials to Market and Distribute Bone Repair Resorbable Biomaterials for Trauma and Reconstruction Applications HUNTERSVILLE, N.C., & BERKELEY, Calif.--(BUSINESS WIRE)--April 26, 2005-- Agreement enables Orthofix to provide orthopedic surgeons with a synthetic bone graft solution for filling bone voids during surgery. "We expect our direct sales force and distribution channels to begin penetrating the trauma and reconstruction markets with our new bone void fillers by the third quarter." Charles Federico, Group President and CEO, OrthofixOrthofix International NV today announced that it has entered into an agreement with Berkeley Advanced Biomaterials, Inc. (BAB) wherein Orthofix will market and distribute an FDA-cleared line of bone repair resorbable biomaterials engineered by BAB for trauma and reconstruction applications. Under the agreement, Orthofix will market and sell this line of BAB resorbable biomaterials that will be packaged for Orthofix as granules, blocks, moldable putty and putty-injection kits. This line of osteoconductive bone scaffold biomaterials based on nanocrystalline hydroxyapatite technology is engineered to resorb quickly, thereby allowing bone to remodel rapidly. "This product line, which we will be branding as OsteoMax(TM), gives Orthofix's nearly 500 company representatives and independent distributors another great reason to call on their orthopedic-surgeon customers--providing them with an outstanding solution for filling bone voids related to trauma and reconstruction applications" said Charles Federico, Group President and Chief Executive Officer of Orthofix. "It is also important to note that this new product line is a perfect complement to our overall product strategy of 'surrounding the orthopedic surgeon' with products that he or she can use preventatively, preoperatively, during surgery, and postoperatively. Orthofix has a powerful worldwide distribution capability, and we will continue to seek out superior products to further fill those channels." "We are extremely pleased to be partnering with Orthofix," added Dr. Francois Genin, co-founder and CEO of Berkeley Advanced Biomaterials. "Given Orthofix's far-reaching distribution capacity, as well as the company's proven track record of managing profitable growth, we view Orthofix as an ideal strategic partner." The global orthopedic 'biomaterials' market is expected to be about $4.2 billion in 2005, increasing to approximately $5.4 billion in 2007 (source--Healthpoint Capital report, "Biomaterials: Creating Better Patient Outcomes, Driving Shareholder Wealth", August 2004). The U.S. 'bone graft/bone substitutes' sector of the 'biomaterials' market was about $60 million in 2003 (source: Orthopedic Network News, Vol. 14, No. 4, October 2003), which represented approximately 8 percent of the total U.S. biomaterials market (source: Orthopedic Network News), an increase of 24 percent in 2003 over the previous year (source: Knowledge Enterprises Report, November 2004).
For more information on the Ostetic product line and on how to purchase Ostetic products, please visit the company's web site: http://www.ostetic.com. About Berkeley Advanced Biomaterials: |
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