Healthcare Industry News: Healthpoint
News Release - November 6, 2006
Nexa Orthopedics, Inc. Reaches Distribution Agreement With Smith & Nephew Endoscopy for Forefoot Surgery ProductsSAN DIEGO, Nov. 6 (HSMN NewsFeed) -- Nexa Orthopedics, Inc. announced today the execution of a new multi-year distribution agreement with Smith & Nephew Endoscopy whereby Nexa has the exclusive right to distribute certain PolyGraft® products designed for use in forefoot surgery under Nexa's OsteoCure® biologic products brand. Nexa will market and sell these products exclusively to Doctors of Podiatric Medicine in the United States and orthopedic surgeons specializing in foot and ankle surgery in certain countries outside of the United States.
The distribution agreement extends and enhances an existing partnership formed between Nexa and OsteoBiologics, Inc ("OBI") in July of 2005. Smith & Nephew announced its acquisition of OBI on July 11, 2006. The agreement includes the potential for additional products to be developed specifically for forefoot surgery exclusively for Nexa and will add distribution rights in several international territories.
Paul Nichols, Nexa President and CEO, commented "We are encouraged by our early success with the PolyGraft products. We believe Smith & Nephew Endoscopy's credibility and history of supporting innovative technologies with sound science and clinical data will help us accelerate adoption in the podiatric surgery community."
The PolyGraft biomaterials are manufactured with poly (D,L-lactide-co-glycolide) polymer, formed into a bi-layered cylindrical scaffold that is absorbed by the body within six to nine months. The material is cleared in the United States as a bone void filler and is marketed in Europe to repair cartilage defects.
About Nexa Orthopedics, Inc.
Nexa Orthopedics, Inc. (www.nexaortho.com) was founded in 2004 by HealthpointCapital to create the pre-eminent company in extremities surgery through a program of business investments, technology in-licensing and internal development. Nexa's mission is to lead innovation in extremity devices for improved patient outcomes through clinical leadership by physicians. Paul Nichols, Nexa President and CEO, has 15 years experience in extremities orthopedics as both an executive and entrepreneur, including founding both Avanta Orthopaedics Corporation and Futura Biomedical, LLC.
Source: Nexa Orthopedics
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