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New Company Abyrx, Inc. Acquires Substantially All of the Assets of Orthocon and DRG; Fully-Capitalizes to Accelerate Growth of Exciting New Biosurgical Product Portfolio
Date:4/24/2013

IRVINGTON, N.Y., April 24, 2013 /PRNewswire/ -- New Company, Abyrx, Inc. ("the Company"), today announced that it has acquired substantially all of the assets of Orthocon and DRG. The Company's portfolio of products includes three FDA-cleared putties that stop bone bleeding and two applicator devices. Its advanced technology platforms are being developed to create products that support bone healing, enable re-approximation of bone surfaces, and deliver drugs to bone. The acquisition also includes Orthocon's exclusive worldwide license agreement with Bezwada Biomedical which gives Abyrx the right to develop, manufacture, and commercialize Bezwada's settable polyurethane technology for bone applications.

Orthocon's President and Chief Executive Officer, John J. Pacifico , and other senior leadership team members from Orthocon will manage Abyrx, and the Company will operate out of the facility previously occupied by Orthocon. A transition services agreement with DRG's former President and CEO, Joseph D. Jannetty , has been secured to assist with the transfer of DRG's technology and to ensure a seamless integration of DRG's manufacturing and commercial operations. Abyrx will also draw on DRG's experience with polyurethane-based surgical products as it completes the development and market introduction of Bezwada's settable polyurethane technology.

With this transaction, Abyrx is well positioned to be a leading provider in the biosurgical products marketplace. The Company has a rapidly growing proprietary distribution network, powered by KAIRUKU (www.kairuku.com), which will be used to expand the reach of its bone hemostat products, including Hemasorb and Hemasorb Apply, and two new products it plans to introduce to the market during 2013. Additional development of Abyrx's biomaterials technology platforms will enable a wide-array of
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SOURCE Abyrx, Inc.
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