CAMBRIDGE, England, January 14 /PRNewswire/ -- This approval enables the
company to market its line of bioresorbable implants for bone and/or soft
tissue repair in the EU. Orthomimetics' family of products was developed
during a groundbreaking collaboration between the
Chondromimetic is a novel off-the-shelf implant that helps to support the repair of defects involving both articular cartilage and bone - defects that can result from sports injuries, surgical intervention and other trauma. Articular cartilage damage and subsequent degeneration of the underlying bone are known to be a major cause of arthritis in young individuals.
CE-mark approval enables the company to market Chondromimetic in Europe, and comes earlier than originally forecast at the time of the company's December 2006 Series A financing. Orthomimetics will immediately launch a comprehensive post-market clinical-trial program for Chondromimetic, and is currently negotiating distribution agreements for key European territories. The company will pursue additional approvals in other global territories throughout 2009.
Commenting on the CE Mark approval, Dr Andrew Lynn, CEO of Orthomimetics, said:
"Orthomimetics is extremely pleased to be able to make Chondromimetic available for surgeons and patients in Europe. This approval is the result of a tremendous amount of hard work on the part of our surgeon advisors, scientific collaborators, and - most of all - our professional, dedicated team. We look forward to making Chondromimetic a clinical and commercial success."
Orthomimetics Limited is a medical technology company that specialises in the design, development, and manufacture of regenerative medical implants and minimally invasive delivery systems for the treatment of sports injuries, trauma and other conditions that affect knees, ankles and other articular joints. Formed in 2005 as the first spin-out venture from the Cambridge-MIT Institute, the company is bringing to market a line of medical device products designed to improve the treatment outcome of first-line surgical procedures for the regenerative repair of articular cartilage, meniscus, ligament and tendon injuries using natural biomaterials. These products are engineered to be compatible with existing surgical techniques and to work in combination with emerging cell- and biologics-based products.
|SOURCE Orthomimetics Limited|
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