WOBURN, Mass.--(BUSINESS WIRE)--OSSIO, Inc., an orthopedic fixation company, announced today that its OSSIOfiberTM Intelligent Bone Regeneration Technology was the recipient of the 2019 Frost & Sullivan North America New Product Innovation Award. The company received the prestigious award within the market of bone regeneration fixation devices, having demonstrated best-in-class qualities in unique areas including understanding demand, nurturing the brand and differentiating from the competition.
“OSSIO’s bone regeneration fixation platform is a one-of-a-kind solution that integrates technology and innovation to improve patient quality of life,” said Sowmya Rajagopalan, Global Program Director at Frost & Sullivan. “OSSIOfiberTM is the first fully bio-integrative fixation device that does not compromise quality, as it uses a fiber architecture that is initially twice as strong as traditional non-metal materials typically used within fixation devices and it incorporates naturally into the bone over time, eliminating the need for hardware removal surgery. OSSIO is at the sweet spot of innovative orthopedic design and its unique implant material offers a myriad of opportunities for the global fixation market.”
The OSSIOfiberTM Bone Pin Family received 510(k) market clearance from the United States Food and Drug Administration in January and launched its first product offering in May for use in the foot and ankle segment for the treatment of forefoot conditions where hardware removal surgeries are prevalent. Full commercialization and availability of the innovative fixation device is set to occur in all states in the third quarter of 2019.
Offering a new category of non-permanent fixation material, the OSSIOfiberTM Intelligent Bone Regeneration Technology features a first of its kind, proprietary bio-integrative material that provides stability and secure bone fixation during the healing process and gradual integration into the native anatomy without any adverse biologic response. Combining unparalleled mechanical strength and natural tissue healing in a non-permanent implant, the OSSIOfiberTM platform has broad application across the spectrum of orthopedic fixation, with plans to enter extremities, trauma, sports, reconstruction, pediatrics and spine segments over the next few years.
"Our OSSIOfiberTM platform represents a major step forward in orthopedic fixation, offering the first credible replacement to permanent metal implants that delivers an unprecedented combination of strength and true bio-integration,” said Brian Verrier, CEO, OSSIO. "We are honored to receive the esteemed Frost & Sullivan New Product Innovation Award, as it represents our unyielding commitment to elevating the standard of care in orthopedic fixation by transforming the patient experience."
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About OSSIOfiberTM Intelligent Bone Regeneration Technology
Designed for rapid bone in-growth, regeneration and replacement, OSSIOfiber™ Intelligent Bone Regeneration Technology is a first-of-its-kind implant material stronger than cortical bone that leaves nothing permanent behind. OSSIOfiberTM is engineered to provide the strength required for functional fixation and allows for full integration into the native anatomy without adverse biological response. OSSIOfiber™ implants utilize existing reimbursement and surgical techniques. The OSSIOfiberTM Bone Pin Family represents the first of several regulatory approvals for the company and is cleared for use in the United States for maintenance of alignment and fixation of bone fractures, osteotomies, arthrodesis and bone grafts in the presence of appropriate additional immobilization.
OSSIO is an orthopedic fixation company committed to transforming the orthopedic experience for patients, physicians and payors. Founded in 2014, its vision is to provide the first credible replacement to metal implants in the multi-billion-dollar global orthopedic fixation market with its OSSIOfiberTM Intelligent Bone Regeneration Technology. OSSIO’s development headquarters is located in Caesarea, Israel, and its commercial headquarters is in Woburn, Massachusetts. For more information on the company visit www.ossio.io.
Forward-looking statements contained herein are based on estimates and assumptions of OSSIO management and are believed to be reasonable, though they are inherently uncertain and difficult to predict.