Healthcare Industry News: Viscogliosi Brothers
News Release - October 19, 2007
Small Bone Innovations, Inc. Rolls out Next Generation RingFIX(TM) System and Introduces Forefoot Repair SetFeatured on CBS TV Early Show, 10.17.07
NEW YORK--(HSMN NewsFeed)--Small Bone Innovations, Inc. (SBi), a single-source provider of innovation, products, technology and education for the small bone & joint sector of the orthopedic industry, has rolled out its ‘next generation’ model of its RingFIX™ Circular Fixation System to treat diseases and trauma of the lower limb such as Charcot foot. SBi also reported that it had received FDA market clearance to introduce a series of “FootFIX” forefoot fixation pins, staples and screws to expand its lower limb portfolio.
The RingFIX system has been modified to accommodate a wider range of foot & ankle conditions than its predecessor. It was marketed previously in Europe under the Fixano brand (a French company acquired by SBi in 2005). The device had an 18 year history of successful clinical use using the principles of the Ilizarov technique for limb preservation and correction of deformity through reconstruction and restoring function using external fixation.
The current system, cleared for marketing by the FDA earlier this year, comprises 208 components including stainless steel half pins, rods, drill & bayonet tip wires, 53 light alloy rings and aluminum or carbon fiber foot plate options.
The dominating growth factor in lower limb disease is treatment of Charcot foot deformity and ulceration associated with diabetes. Other FDA-cleared indications include ankle fractures, limb lengthening and treating bone and joint deformities or defects.
Michael S. Pinzur, MD, Professor of Adult Orthopaedics & Rehabilitation - Foot & Ankle Surgery - at Loyola University Medical Center in Chicago, said: “There is a growing body of clinical evidence that the use of sophisticated external fixation technology such as the RingFIX circular fixation device represents a tissue sparing and function restoring alternative to amputation for diabetic patients.”
More than 60% of non-traumatic lower limb amputations occur in people with diabetes – approximately 75,000 in 2003, according to the US Centers for Disease Control.
Mr. Viscogliosi noted that: “An even more distressing statistic is that 85 percent of amputations could be avoided through early intervention and diagnosis. Of all treatment methods offered by SBi and the industry generally, this is a huge opportunity to dramatically alter outcomes and, in essence, restore hope by saving both the form and function of the lower limb.”
SBi’s goal of establishing a comprehensive foot and ankle management system has been boosted further by recent FDA 510(k) clearances of forefoot repair components as a part of its “FootFIX” product line for bone reconstruction, osteotomy, arthrodesis and fracture repair.
The newly cleared products include: StaFIX™ threaded staples; PercuFIX™ threaded pins; and TwistoFIX™ compression screws in a complete forefoot fixation set. SBi anticipates more additions to its foot and ankle portfolio following the completion of several transactions during the past year involving licenses and technology acquisitions.
The StaFIX stainless steel threaded staple set is designed for repair of small bone fractures in the foot, osteotomy, fusions and soft tissue re-attachment. The set contains three sizes of staple in a straight and angulated configuration, while the straight soft tissue staple comes in four sizes. The threaded ends facilitate ease of removal.
The PercuFIX ‘break-away’ percutaneous titanium alloy pins (in 5 lengths, 1.8 mm dia.) require no use of a wire cutter and are threaded for ease of removal. The TwistoFIX self-drilling/self-tapping screw set (in 5 sizes, 2mm dia.) with accompanying clamp enables the surgeon to determine precisely screw length and placement.
Anthony G. Viscogliosi, SBi’s CEO, noted: “We are determined to offer the widest, deepest and most anatomically focused portfolio of products to cover the entire continuum of foot and ankle care and these new product launches are a major step in that direction.”
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC, (VB), the New York-based merchant banking firm that specializes in the musculoskeletal/orthopedic sector. VB created SBi as the first company to focus purely on small bone & joint science. By integrating established companies and professionals in the field, SBi can offer a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in small bones & joints. Today, SBi has more than 130 employees at facilities in New York, NY, Morrisville, PA, and Bourg-en-Bresse, France.
SBi closed on the sale of $42.2 million of its securities in December 2005. At the time, based on data provided by Venture Source, it was the largest venture capital investment ever recorded in the field of orthopedic devices.
SBi was a 2006 recipient of Red Herring magazine’s annual “Red Herring 100 North America” award, recognizing SBi as one of the nation’s leading technology companies and the only orthopedic device company selected among an initial entry of more than one thousand firms.
Additionally, SBi’s Artelon® CMC-I Spacer, developed for patients with osteoarthritis at the base of the thumb, was featured on the cover and highlighted within Medical Design Technology magazine’s “Year of Innovation” issue as one of the most fascinating technologies influencing the medical device industry.
Medical Device & Diagnostic Industry magazine named SBi to its list of “50 Companies to Watch” in 2006, noting, “Small Bone Innovations is going against the grain in its determination to become a market leader in the small bone & joint device sector.”
For more information on SBi, please visit: www.totalsmallbone.com.
About Viscogliosi Bros., LLC
Established by Marc R. Viscogliosi, John J. Viscogliosi and Anthony G. Viscogliosi in New York City in 1999, Viscogliosi Bros., LLC (VB) was the first venture capital/private equity and merchant banking firm dedicated to the musculoskeletal/orthopedics sector of the health care industry.
Today, VB is a leading independent firm with a mission to create, build and finance companies founded on innovations developed by surgeons and uniquely focused on “life changing” musculoskeletal/orthopedic technologies. VB has worldwide surgeon, industry and trade relationships, and significant financial expertise in the musculoskeletal/orthopedic sector.
As principals of VB, the Viscogliosi Brothers have a combined total of nearly half a century of experience analyzing and investing in the musculoskeletal/orthopedics sector, directing literally billions of dollars through the orthopedics industry. VB has pioneered innovative financial, strategic and management initiatives for nearly 150 companies in the sector, from start-up, seed and development stage all the way to exit, while helping people lead better lives through the orthopedic and spinal products marketed and sold by the companies they have assisted in developing and financing.
For more information about VB, please visit: www.vbllc.com.
This press release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting SBi's business including increased competition; the ability of SBi to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.
Source: Small Bone Innovations
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