BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
Implanet (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee-surgery implants, is today announcing it has entered into a Private Label Distribution Agreement with SeaSpine, Inc., a wholly owned subsidiary of SeaSpine Holdings Corporation (NASDAQ: SPNE) covering the Jazz® portfolio in the United States, the world’s largest market for the treatment of spinal conditions, worth over $6 billion1.
SeaSpine, a global medical technology company focused on surgical solutions for the treatment of spinal disorders, will have exclusive rights to sell the Jazz® line under its own brand name across the US. SeaSpine will also have the right to sell Jazz Cap®, a proprietary implant developed specifically to treat degenerative spinal trauma conditions, once regulatory clearance has been obtained.
Under the partnership arrangement, Implanet will continue to market the Jazz® portfolio to existing US customers.
The agreement, which has an initial term of six years and includes contractual annual minimum payments, will also give SeaSpine exclusive access to co-developed products utilizing Implanet’s Jazz® technology.
“This partnership represents a major step forward for Implanet and is a testament to the tremendous clinical value of our proprietary Jazz® technology”, commented Ludovic Lastennet, Implanet’s Chief Executive Officer. “Establishing ourselves in the US market has been our core strategy since 2016. SeaSpine’s sales and marketing team in the United States will accelerate our expansion in the world’s largest market. The partnership demonstrates our ability to develop disruptive technologies that meet market demand for new innovations. This fits our medium-term strategic development plan, which is predicated on rolling out our direct sales model in France, the US and high-potential European markets (United Kingdom and Germany) while developing select strategic partnerships, such as that recently established with Kico Knee Innovation to distribute our Madison knee implant line in the United States and Australia.”
Keith Valentine, SeaSpine President and Chief Executive Officer, added: “We are pleased to partner with Implanet to provide Jazz® and Jazz Cap® technology to our distributor partners, surgeon customers and their patients. With its significant clinical history, the Jazz® range will be a welcome strategic addition to our comprehensive spinal implant portfolio.”
SeaSpine (www.seaspine.com) is a global medical technology company focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine has a comprehensive portfolio of orthobiologics and spinal implants solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. SeaSpine’s orthobiologics products consist of a broad range of advanced and traditional bone graft substitutes that are designed to improve bone fusion rates following a wide range of orthopedic surgeries, including spine, hip, and extremities procedures. SeaSpine’s spinal implants portfolio consists of an extensive line of products to facilitate spinal fusion in minimally invasive surgery (MIS), complex spine, deformity and degenerative procedures. Expertise in both orthobiologic sciences and spinal implants product development allows SeaSpine to offer its surgeon customers a differentiated portfolio and a complete procedural solution to meet their fusion requirements. SeaSpine currently markets its products in the United States and in over 30 countries worldwide.
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 38 staff and recorded 2018 sales of €6.7 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 16, 2018 under number D.18-0337 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.
1 Source : GBI Research