ALACHUA, Fla.--(BUSINESS WIRE)--RTI Surgical® Inc. (RTI) (Nasdaq: RTIX), a leading global surgical implant company, announced a new agreement with Oxford Performance Materials, Inc. (OPM), a pioneer in advanced materials and additive manufacturing (3-D printing) for biomedical applications.
The agreement, effective Feb. 4, 2016, grants RTI an exclusive license to OPM’s OsteoFab® technology platform for spinal applications in all U.S. markets. OsteoFab is a next-generation implant manufacturing process that builds implantable medical devices, layer-by-layer, using only laser light and OPM’s OXPEKK® polymer. The OsteoFab process and OXPEKK material combine to create implants that are designed to enable bone ongrowth.
OXPEKK is a proprietary high-performance biocompatible polymer formulation from OPM, designed for medical applications. This strong, pure, radiolucent, hydrophilic, load-bearing material boasts a successful history in orthopedic implant applications.
Under the agreement, OPM will manufacture RTI’s spinal implant designs using OsteoFab technology, and RTI will oversee finishing steps, packaging, marketing and distribution of finished products.
“We are thrilled to announce this agreement with Oxford Performance Materials,” said Brian K. Hutchison, president and CEO of RTI Surgical. “OsteoFab is an incredibly exciting technology that creates new opportunities for innovation in the spinal implant market. We look forward to working with OPM to offer our customers and their patients a new alternative for spinal implants.”
“We see RTI Surgical as a growth company in the spinal implant space,” said Scott DeFelice, chairman and CEO of OPM. “RTI is a leading developer of medical implants with a long history of putting sound science behind their products. From the outset, RTI has worked closely with us and we look forward to a lengthy and productive relationship that leverages the unique benefits of OsteoFab technology to improve patient care.”
About RTI Surgical Inc.
RTI Surgical is a leading global surgical implant company providing surgeons with safe biologic, metal and synthetic implants. Committed to delivering a higher standard, RTI’s implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures and are distributed in nearly 50 countries. RTI is headquartered in Alachua, Fla., and has four manufacturing facilities throughout the U.S. and Europe. RTI is accredited in the U.S. by the American Association of Tissue Banks and is a member of AdvaMed. For more information, please visit www.rtix.com.
About Oxford Performance Materials
Oxford Performance Materials Inc. (OPM) is a recognized leader in 3D printing and high performance additive manufacturing (HPAM™). OPM has developed a range of advanced materials technology focused on the high performance polymer poly-ether-ketone-ketone. OPM has successfully developed unique, enterprise-level additive manufacturing solutions utilizing its OXPEKK® polymer formulation and proprietary 3D printing processes to deliver fully functional end-use products to the biomedical, aerospace, and industrial markets. A pioneer in personalized medicine, OPM Biomedical became the first and only company to receive 510(k) clearance from the FDA to manufacture 3D printed patient-specific polymeric implants, initially for its cranial prostheses line in February 2013. OPM’s second FDA clearance was for its patient-specific facial implants in July 2014, and its third was in July, 2015 for its SpineFab® VBR system, which provides the first and only FDA cleared 3D printed load-bearing polymeric medical device. All three implant product lines are for permanent implantation.
Forward Looking Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations, estimates and projections about our industry, our management's beliefs and certain assumptions made by our management. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, except for historical information, any statements made in this communication about anticipated financial results, growth rates, new product introductions, future operational improvements and results or regulatory actions or approvals or changes to agreements with distributors also are forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties, including the risks described in public filings with the U.S. Securities and Exchange Commission (SEC). Our actual results may differ materially from the anticipated results reflected in these forward-looking statements. Copies of the company's SEC filings may be obtained by contacting the company or the SEC or by visiting RTI's website at www.rtix.com or the SEC's website at www.sec.gov.