Contacts: Anthony G. Viscogliosi, Viscogliosi Bros, LLC (212) 583-9700
Nick Kilsby, Creative Partners (203) 705-9202
VISCOGLIOSI BROS., LLC ACQUIRES XTREMI-T, LLC
New York, NY: February 21, 2005 - Viscogliosi Bros., LLC ("VB")
recently finalized an asset purchase agreement with Xtremi-T, LLC ("Xtremi-T"),
a Lawrenceville, NJ-based orthopaedics company. Xtremi-T is a technology-driven
company involved in developing and marketing resorbable trauma solutions
for small bone and joint surgeons and podiatrists. Under the terms of
the agreement, VB received all of Xtremi-T’s assets in exchange
for a one-time payment.
Founded in June 2004, Xtremi-T is focused on the development and commercialization
of fixation devices and instrumentation for small bone and joint surgeons.
Xtremi-T’s first product offering, Refix™, is a line of
bioresorbable plates, screws, and pins with many small bone and joint
applications. Xtremi-T is at an advanced stage in the regulatory process
for the Refix™ product line and is expected to have full FDA approval
and broad commercial distribution during 2005.
The products under development at Xtremi-T are all built from polymers
that are slowly metabolized by the body. Resorbable products have a
distinct advantage over many other types of fixation devices because
no subsequent procedure is required to remove them. Xtremi-T’s
line of products is expected to compete head-to-head with those from
leading orthopedic device manufacturers.
Mr. Anthony G. Viscogliosi, a Principal at VB, said: "Xtremi-T
perfectly fills a niche in VB’s current strategic direction. Shawn
Huxel is a driven entrepreneur and we are certain that he will execute
Xtremi-T’s plan to develop and commercialize resorbable fixation
implants and instruments. Xtremi-T’s bioresorbable trauma products
show significant promise and we are confident that, with our financial
backing, the company’s products will quickly become the solution
of choice in procedures requiring bioresorbable fixation devices."
Shawn S. Huxel, the founder and President of Xtremi-T, said: "We
at Xtremi-T are excited to become part of the VB family of companies.
With VB’s significant financial resources and expertise in navigating
clinical and regulatory processes, we are convinced that we can bring
our product to market more quickly and efficiently. I am confident that
when Refix™ is commercialized, we will benefit enormously from
VB’s extensive surgeon relationships."
About Viscogliosi Bros., LLC
Established by Marc R. Viscogliosi, John J. Viscogliosi and Anthony
G. Viscogliosi in New York City in 1999, VB was the first venture capital/private
equity and merchant banking firm dedicated to the musculoskeletal/orthopedics
sector of the health care industry. Today, VB is a leading independent
firm with a mission to create, build and finance companies founded on
innovations developed by surgeons and uniquely focused on "life
changing" musculoskeletal/orthopedic technologies. VB has worldwide
surgeon, industry and trade relationships and significant financial
expertise in the musculoskeletal/orthopedic sector.
As principals of VB, the Viscogliosi brothers have a combined total
of more than 35 years experience analyzing and investing in the musculoskeletal/orthopedics
sector. The have pioneered innovative financial, strategic and management
initiatives for companies in the sector, from start-up, seed and development
stage all the way to exit, while helping thousands of people lead better
lives through the orthopedic and spinal products marketed and sold by
the companies they have assisted in developing and financing.
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