MEMPHIS, Tenn., May 24, 2011 /PRNewswire/ -- Smith & Nephew Orthopaedics (NYSE: SNN) today announces the signing of a distribution agreement with French biotechnology company Graftys. The deal gives Smith & Nephew distribution rights for Graftys' fast-setting, macroporous calcium phosphate bone void filler in the U.S., and potentially in additional countries around the world.
"We are committed to offering our surgeon customers innovative solutions which benefit patients," says Bill Shopoff, President of the Trauma Franchise of Smith & Nephew Orthopaedics. "This is a unique product from the leading innovator in this space and we look forward to a successful partnership."
The distribution deal is for a unique bone graft technology that offers a surgeon an injectable, hard-setting resorbable calcium phosphate bone substitute which provides a support scaffold for bone growth and is also easy to mix and apply in situ.
"We are very confident that the combination of Graftys' unique technology with the broad capability of the Smith & Nephew organization will bring advanced capabilities to the orthopaedic marketplace," says Alain Valet, Chief Executive Officer for Graftys.
About Smith & Nephew
Smith & Nephew is a global medical technology business with global leadership positions in Orthopaedics; including Reconstruction, Trauma and Clinical Therapies; Endoscopy; including Sports Medicine; and Advanced Wound Management. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The Company has distribution channels, purchasing agents and buying entities in over 90 countries worldwide. Annual sales in 2010 were $4 billion.
Graftys was created in 2005. The Company is based in Aix en Provence and Nantes (France) and opened its US office in Chicago in 2009. The Graftys team (23 employees) develops, manufactures and markets biomaterials and biotechnologies in the field of bone biology. Company technologies provide innovative therapeutic products through bone tissue engineering. Graftys is at the leading edge of combination products (ie drug/device). The company has partnered with leading research institutions in France (INSERM, CRNS, ANR, and various Universities) and co-owns several patents with these organizations.
This press release contains certain "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. In particular, statements regarding planned growth in our business and in our trading margins discussed under "Outlook" are forward-looking statements as are discussions of our product pipeline. These statements, as well as the phrases "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions, are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors (including, but not limited to, the outcome of litigation and regulatory approvals) that could cause the actual results, performance or achievements of Smith & Nephew, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to Smith & Nephew as of the date hereof. All written or oral forward-looking statements attributable to Smith & Nephew or any person acting on behalf of Smith & Nephew are expressly qualified in their entirety by the foregoing. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement contained herein to reflect any change in Smith & Nephew's expectation with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
|SOURCE Smith & Nephew|
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