Contacts: Anthony G. Viscogliosi, Viscogliosi Bros, LLC (212) 583-9700
Nick Kilsby, Creative Partners (203) 705-9202
SMALL BONE INNNOVATIONS LICENSES ARTELON® CMC-I SPACER TO TREAT
New York, NY: February 23, 2005 - Small Bone Innovations LLC (SBI),
a new company formed by merchant bankers, Viscogliosi Bros., LLC (VB),
has agreed with Artimplant AB, a Swedish biomaterials and orthobiologics
company, to license Artimplant’s Artelon® CMC-1 spacer globally
– excepting Scandinavia.
SBI recently acquired four orthopedics companies in the US and Europe.
The acquisitions are part of VB’s strategy is to create a single
source of products and technology for surgeons specializing in small
bones and joints or ‘extremities’. VB believes that this
sector has not been a focus of major orthopedic manufacturers.
The global license is restricted to the supply and distribution of the
Artelon® CMC-I Spacer, a bioabsorbable implant for treating arthritis
at the base of the thumb, a condition prevalent among women especially
and men over the age of 50.
The Artelon® CMC-I Spacer was cleared for sale in the US by the
FDA in September 2004. SBI formally launched the product today at the
annual American Academy of Orthopedic Surgeons convention in Washington
According to research published by Artimplant, arthritis in the base
of the thumb is prevalent in approximately 30 percent of women and in
up to 15 percent of men over the age of 50. Clinical trials at three
years post-implantation of patients in Sweden have evidenced absence
of pain and better grip strength compared to a control group treated
with tendon interposition, a form of fusion and a current standard of
The principal feature of Artelon® technology is the material’s
ability to facilitate the body’s self-healing processes. Also,
the anatomy of the hand is preserved since the joint is not fused and
the trapezium is not replaced with autologous tendon.
Anthony G. Viscogliosi, Chairman & CEO of SBI said: “The implant
is designed to help the body heal itself. The unique properties of Artelon®
promise to revolutionize remedial treatment of osteoarthritis in the
base of the thumb.”
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 SBI and Artimplant share a 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 orthopedic centers
of excellence in this field to become the provider of choice in biomaterials
for hard and soft tissue repair in multiple therapy areas,” he
Note to editors: Artimplant AB has signed
a separate licensing agreement for Artelon® with Biomet, Inc. for
use as a tendon augmentation product. Currently, the only FDA-approved
application of Artelon® is for the CMC-1 spacer being marketed by
SBI for treating osteoarthritis at the base of the thumb.
Small Bone Innovations, LLC (SBI) was founded in 2004 by Viscogliosi
Bros. LLC., (VB), the New York-based merchant banking firm that specializes
in the musculoskeletal /orthopedic sector. VB created SBI as the first
company to focus purely on small bone & joint science. By integrating
established companies and professionals in the field, SBI today offers
a broad , clinically proven portfolio of products and technology to
treat trauma and diseases in small bones & joints.
VB’s acquisitions and technology licenses include: Avanta
Orthopaedics (hand/wrist/elbow arthroplasty and trauma products
– USA); Envision (implant manufacturing –
USA); Actipore™ (porous metal technology –
Canada); Artelon ®(biologically active & biodegradable
technology – Sweden); Xtremi-T (resorbable trauma
technology – USA).
For more information on SBI visit: www.totalsmallbone.com
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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