PRESS RELEASES

Contacts: Anthony G. Viscogliosi, Viscogliosi Bros, LLC (212) 583-9700 ext. 101
Chris Storer, EKK PR (203) 705-9219

AVANTA LICENSES SWEDISH HAND IMPLANT TECHNOLOGY - FOLLOWS FDA APPROVAL FOR ARTELON® CMC-I SPACER


New York, NY: December 2, 2004 - Avanta Orthopedics, LLC, a San Diego-based company owned by Viscogliosi Bros., LLC (VB), has agreed with Artimplant, a Swedish biomaterials and orthobiologics company to license Artimplant’s newly available bioabsorbable implant technology.

Avanta Orthopedics (Avanta) is a leader in the US small joint market specializing in upper extremity surgery. The specifics of the agreement include the global license, supply, and distribution rights for Artimplant’s Artelon® CMC-I Spacer, a resorbable implant for treating arthritis at the base of the thumb.

The Artelon® CMC-I Spacer was cleared for sale by the US FDA in September 2004. Avanta plans to launch the product in the US at the beginning of 2005. Artimplant will continue to market the product in the Nordic countries under its existing Artelon® TMC Spacer designation.

Arthritis in the base of the thumb is prevalent in up to 30 percent in women and in 10-15 percent in men over the age of 50. According to Artimplast, clinical trials have shown pain free patients and better grip strength compared to tendon interposition (APL), the current standard of care.

The principal feature of Artimplant’s Artelon® technology is the material’s ability to facilitate the body’s self-healing processes. Secondarily, the anatomy of the hand is preserved since the joint is not fused and the trapezium is not replaced with autologous tendon.

Anthony Viscogliosi, CEO of Avanta Orthopedics and principal of VB, said: “The implant is designed to help the body heal itself. The unique properties of the biomaterial, Artelon®, promise to revolutionize the therapy landscape for arthritis in the base of the thumb. The demand for bio-implants is increasing so rapidly that we intend to explore other applications based on Artelon® to supplement our portfolio of truly life-changing technologies.”

Tord Lendau, CEO of Artimplant, said: “We are delighted to have found a partner capable of becoming the world leader in the high growth potential market for treating orthopedic extremities. The US market represents a huge breakthrough opportunity for Artelon®-based technology in a variety of applications.”

Mr. Lendau noted that Artimplant’s mission is to develop innovative biodegradable materials and implants that meet the needs of patients, physicians and healthcare providers in orthopedics and other therapy areas.

“We are working with several global partners at centers of excellence in this field
to become the partner of choice in biomaterials for hard and soft tissue repair in multiple therapy areas,” he added.

About VB
VB is a New York-based, closely held venture capital, private equity, and merchant banking firm focused on the musculoskeletal/orthopedics industry. VB acquired Avanta in October of this year for an undisclosed sum.

For more information please visit: www.vbllc.com

About Avanta
Avanta Orthopedics, LLC is a market-leading orthopedic implant manufacturer and marketer based in San Diego, California. Since 1976, the Company has been a US market leader dedicated to developing surgeon-innovated implants for the hand and upper extremity markets. Working alongside leading surgeons worldwide, Avanta has developed innovative products to treat orthopedic pathologies of the hand, wrist, and elbow.

Further information is available at: www.avanta.org

About Artimplant
Artimplant is a public company, listed on the Stockholm Exchange, O-list. For additional information, please contact: Tord Lendau, CEO, phone +46 (0)31 746 56 00, +46 (0)708 369 403, email: tord.lendau@artimplant.se, Web site: www.artimplant.com
 
> Back to Press Releases

 

Viscogliosi Bros., LLC is not an investment adviser, money manager, asset manager or otherwise give investment advice.