antiquity
02-26-2002, 11:22 AM
MTF and Spineology Enter Into Agreement on Advanced Bone Graft Technology
STILLWATER, Minn., Feb. 26 /PRNewswire/ -- The Musculoskeletal Transplant Foundation (MTF), the world's leading provider of human musculoskeletal allografts and Spineology, an orthopaedic and spinal implant company, reported today that the two companies have entered into a development, distribution and marketing agreement. Under the terms of the agreement, the companies will co-develop a delivery system for MTF's allograft bone into Spineology's OptiMesh. MTF will develop a human allograft and demineralized bone matrix capable of delivery through Spineology's proprietary fill tubes. The pre-filled allograft tubes will be used to fill Spineology's OptiMesh, currently under development, designed to contain bone grafting materials in orthopaedic procedures.
"We believe the proven benefits of MTF's allograft bone combined with the proprietary technologies of Spineology will greatly enhance orthopaedic surgeries requiring bone grafting," said Douglas E. King, CEO of Spineology Inc.
"MTF is always interested in novel applications of allograft which allow us to more fully use these donated human tissues, while providing measurable patient benefits. We are pleased to be working with Spineology in this exciting new area," said Bruce W. Stroever, President and CEO of MTF.
About MTF
The Musculoskeletal Transplant Foundation is the world's largest full service tissue organization dedicated to providing quality tissue through a commitment to excellence in education, research, recovery and care for recipients, donors and their families. A not-for-profit organization, MTF is a consortium of academic medical institutions and organ procurement and tissue recovery organizations across the country. In 2001, over 240,000 tissue grafts were distributed by MTF, helping over 180,000 patients.
About Spineology Inc.
Spineology is a developer of proprietary technologies to be manufactured and marketed to the global implant market. Spineology's three primary technologies include K-Centrum(R) Anterior Spinal Fixation System, Loop Tension Band System and OptiMesh(TM). K-Centrum is an anterior spinal fixation system for the spine, cleared for sale in the U.S. by the FDA and in Europe for alignment correction and stabilization of the thoraco-lumbar spine from T6 to L5. The LOOP Tension Band System is under development for use in general orthopaedics and spinal fusion procedures. Also under development OptiMesh is designed to contain bone-grafting materials in orthopaedic procedures.
This press release contains forward-looking statements by Spineology regarding its expectations as to its OptiMesh products and other aspects of its business. Such statements are based on its current expectations and are subject to a number of substantial risks and uncertainties that could cause actual results or timeliness to differ materially from those addressed in the forward-looking statements. Factors that may cause such a difference include, but are not limited to, its history of operating losses and its need for additional funds, as well as the risks and uncertainties in preclinical and clinical trial results, gaining regulatory approvals, scaling-up manufacturing, market acceptance, the sales levels of its products, research and development, competition and other risk factors. Spineology undertakes no obligation to publicly update any forward-looking statements.
Spineology Inc. MTF
1815 Northwestern Avenue 125 May Street, Suite 30
Stillwater, MN 55082 Edison, NJ 08837-9947
STILLWATER, Minn., Feb. 26 /PRNewswire/ -- The Musculoskeletal Transplant Foundation (MTF), the world's leading provider of human musculoskeletal allografts and Spineology, an orthopaedic and spinal implant company, reported today that the two companies have entered into a development, distribution and marketing agreement. Under the terms of the agreement, the companies will co-develop a delivery system for MTF's allograft bone into Spineology's OptiMesh. MTF will develop a human allograft and demineralized bone matrix capable of delivery through Spineology's proprietary fill tubes. The pre-filled allograft tubes will be used to fill Spineology's OptiMesh, currently under development, designed to contain bone grafting materials in orthopaedic procedures.
"We believe the proven benefits of MTF's allograft bone combined with the proprietary technologies of Spineology will greatly enhance orthopaedic surgeries requiring bone grafting," said Douglas E. King, CEO of Spineology Inc.
"MTF is always interested in novel applications of allograft which allow us to more fully use these donated human tissues, while providing measurable patient benefits. We are pleased to be working with Spineology in this exciting new area," said Bruce W. Stroever, President and CEO of MTF.
About MTF
The Musculoskeletal Transplant Foundation is the world's largest full service tissue organization dedicated to providing quality tissue through a commitment to excellence in education, research, recovery and care for recipients, donors and their families. A not-for-profit organization, MTF is a consortium of academic medical institutions and organ procurement and tissue recovery organizations across the country. In 2001, over 240,000 tissue grafts were distributed by MTF, helping over 180,000 patients.
About Spineology Inc.
Spineology is a developer of proprietary technologies to be manufactured and marketed to the global implant market. Spineology's three primary technologies include K-Centrum(R) Anterior Spinal Fixation System, Loop Tension Band System and OptiMesh(TM). K-Centrum is an anterior spinal fixation system for the spine, cleared for sale in the U.S. by the FDA and in Europe for alignment correction and stabilization of the thoraco-lumbar spine from T6 to L5. The LOOP Tension Band System is under development for use in general orthopaedics and spinal fusion procedures. Also under development OptiMesh is designed to contain bone-grafting materials in orthopaedic procedures.
This press release contains forward-looking statements by Spineology regarding its expectations as to its OptiMesh products and other aspects of its business. Such statements are based on its current expectations and are subject to a number of substantial risks and uncertainties that could cause actual results or timeliness to differ materially from those addressed in the forward-looking statements. Factors that may cause such a difference include, but are not limited to, its history of operating losses and its need for additional funds, as well as the risks and uncertainties in preclinical and clinical trial results, gaining regulatory approvals, scaling-up manufacturing, market acceptance, the sales levels of its products, research and development, competition and other risk factors. Spineology undertakes no obligation to publicly update any forward-looking statements.
Spineology Inc. MTF
1815 Northwestern Avenue 125 May Street, Suite 30
Stillwater, MN 55082 Edison, NJ 08837-9947