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 is announcing that it has finalized the partnership with South Korean company L&K BIOMED Co. Ltd.
In January, IMPLANET entered into a distribution agreement with Aegis Spine, L&K BIOMED’s US subsidiary, under which it can harness the expertise of Aegis Spine’s team for the commercialization of its products in the United States, a priority market for the Company. In line with the previous announcement, the strategic alliance between IMPLANET and L&K BIOMED has now been finalized, with cross-distribution agreements covering their respective products in Asia and Europe.
- In the United States: IMPLANET America will pool its resources with those of Aegis Spine to accelerate the commercialization of its JAZZ® platform. The development of existing and complementary solutions incorporating both companies’ technologies will be a key lever for this.
- In Asia and Oceania: L&K BIOMED will distribute the JAZZ® platform alongside its product range. Initially, in addition to the South Korean market, the aim is to expand jointly into the Japanese market, the world’s second-largest market for medical technologies. Subsequently, they will target the Chinese market.
- In Europe: IMPLANET will distribute L&K BIOMED’s products, which complement the JAZZ® platform, in France, the United Kingdom and Germany, with a view to establishing itself as a major player in these markets.
“L&K BIOMED is delighted about this partnership with IMPLANET, which will help us expand into key regions, such as Europe. What’s more, the introduction of the JAZZ® technology platform, which has been very warmly welcomed by orthopedic surgeons in Japan and China, together with our various existing product ranges, will give us a major competitive advantage in these markets”, commented Seung Joo Lee, CEO of L&K BIOMED.
Ludovic Lastennet, IMPLANET’s Chief Executive Officer, added: “We are delighted to have finalized this agreement with L&K BIOMED, as it represents a key milestone in IMPLANET’s international development. We can now step up the combined efforts, launched by our teams in January, across all the geographical territories covered by this partnership. The regulatory approvals for commercialization should be granted before the end of 2018.”
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