BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0010458729, PEA-PME eligible; OTCQX: IMPZY) (Paris:ALIMP) (OTCQX:IMPZY), a medical technology company specializing in vertebral and knee-surgery implants has released a progress update on the partnership it entered into with South Korean company L&K BIOMED Co. Ltd in December 2017.
On December 6, IMPLANET announced it had entered into a preliminary agreement concerning the implementation of a worldwide partnership with L&K BIOMED in order to accelerate its expansion, especially in the United States and in Asia.
The distribution agreement with AEGIS SPINE, L&K BIOMED’s US subsidiary,
has now been completed, in line with previous announcements. IMPLANET
will capitalize on the expertise of Aegis Spine to complement the
existing commercialization efforts in the United States, the company’s
The first surgeries with AEGIS SPINE’s KOLs are scheduled for early February.
In conjunction, both companies’ Asian and European teams are working on regulatory, marketing and commercial aspects of the two product line launches in their respective markets. L&K BIOMED’s technical and sales teams will undergo training at IMPLANET’s headquarters in early February. Cross-distribution agreements covering these geographical territories are due to be signed in the next few weeks.
Next financial press release: full-year 2017 results on Thursday, March 14, 2018
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ® latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 48 staff and recorded 2017 sales of €7.8 million. For further information, please visit www.implanet.com.
Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.
IMPLANET is listed on Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the BEOCABSA, OCA, BSA and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80
This press release contains forward-looking statements concerning Implanet and its activities. Such forward looking statements are based on assumptions that Implanet considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward-looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Implanet registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on April 26, 2016 under number R.16-035 and available on the Company's website (www.implanet-invest.com), and to the development of economic situation, financial markets, and the markets in which Implanet operates. The forward-looking statements contained in this release are also subject to risks unknown to Implanet or that Implanet does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Implanet that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for Implanet shares in any country.