BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, is announcing it has received its first orders from Kico Knee Innovation for its Madison knee implants and from SeaSpine, Inc., a wholly owned subsidiary of SeaSpine Holdings Corporation (NASDAQ: SPNE) for its JAZZ® Spine portfolio. The orders total €0.4 million combined.
IMPLANET has stressed the strategic importance of these new partnerships for accelerating the pace of the Company’s commercial development, especially in the United States. These orders represent a major step forward in pursuit of the strategic priorities for these markets in both the spinal and knee implant segments.
The distribution agreement with Kico Knee Innovation relates to IMPLANET’s MADISON implant business. It covers the high-potential U.S. and Australia markets. Once a threshold of 1,000 MADISON implants in a 12-month period is reached, Kico will gain exclusive rights to MADISON knee implants in these countries, with a manufacturing license option.
The SeaSpine Private Label Distribution Agreement covers the commercialization of IMPLANET’s JAZZ® range in the United States, the world’s largest market for the treatment of spinal conditions. The agreement, with an initial term of six years, includes contractual annual minimum payments and gives SeaSpine exclusive access to co-developed products utilizing JAZZ® technology.
Ludovic Lastennet, IMPLANET’s Chief Executive Officer, commented: “These initial orders show the enthusiasm and effectiveness of our teams and their close collaboration with our partners. The orders are also a testament to the clinical value of our orthopedic product platform. IMPLANET is able to develop technologies meeting the highest standards in the market. The latest example of this is JAZZ Cap®, with the first cases recently completed in the U.S. following 510(k) clearance. These partnerships provide a tremendous boost to our market coverage in priority markets, which include the United States.”
Private label production of these products will start as soon as possible, with deliveries scheduled for 2019.
Next press release: 2019 first half revenue, 10 July after market close.
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. IMPLANET’s tried-and-tested orthopedic platform, which is based on perfect control over the traceability of its products, provides it with a proven ability to promote this innovation. 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 equity line (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.