Healthcare Industry News: Wright Medical Group
News Release - September 15, 2008
Wright Medical Announces Launch of BIOTAPE XM(TM) Reinforcement MatrixAcellular Xenograft Matrix Provides New Technology Platform for the Foot and Ankle Market
ARLINGTON, Tenn.--(HSMN NewsFeed)--Wright Medical Group, Inc. (NASDAQ: WMGI ) today announced the launch of BIOTAPE XM™ Reinforcement Matrix, a sterile, acellular xenograft matrix for reinforcement of soft-tissue repairs in foot and ankle surgical procedures.
BIOTAPE XM™ Reinforcement Matrix is the latest addition to Wright’s market-leading biologics portfolio of technologies for foot & ankle surgery featuring GRAFTJACKET® Regenerative Tissue Matrix, PRODENSE™ Injectable Regenerative Graft, CANCELLO-PURE™ Xenograft Bone Wedges, the ALLOMATRIX® family of demineralized bone matrix products, and OSTEOSET® T Medicated Bone Graft (not currently available in the U.S.).
Human biomechanical tests and animal studies with BIOTAPE XM™ Matrix reveal encouraging data for patients in need of surgical repair of injured tendons. When used to reinforce the repair of a tendon, BIOTAPE XM™ Matrix increases the strength of the initial repair by 70% on average when compared to suture repair alone. In addition, animal studies support that the implant is well-tolerated by the host allowing fibroblast repopulation, revascularization and bio-integration with host tissue.
“The opportunity to benefit patients with foot and ankle tendon injuries, such as Achilles tendon ruptures, requiring surgical repair is very real with this material,” says Thomas H. Lee, M.D., Associate Clinical Professor, Ohio State University, Columbus, Ohio, who assisted Wright in the development of the BIOTAPE XM™ Matrix. “By adding the BIOTAPE XM™ reinforcement scaffold we can strengthen the primary tendon repair which may reduce the likelihood of failures that lead to costly revision surgeries. Even more exciting, based on the published literature, tendon augmentation can potentially shorten the rehabilitation period, getting patients back to their productive lives faster,” adds Dr. Lee.
Eric E. Gay, Wright’s Director of Biologics Marketing, stated “The launch of BIOTAPE XM™ Reinforcement Matrix will help to expand our leadership position in the foot and ankle soft-tissue reinforcement market. In addition, BIOTAPE XM™ Matrix, being a material of animal origin, will provide a less burdensome entrance into many of our international markets where human tissue regulations make providing human tissue products difficult and in some cases impossible.”
The company estimates there are approximately 100,000 foot and ankle tendon repairs annually in the U.S. and 200,000 worldwide, many of which could potentially benefit from reinforcement with BIOTAPE XM™ Matrix.
Wright will begin distribution of BIOTAPE XM™ Matrix in both the U.S. and select international markets immediately through its worldwide extremity product sales force.
Wright Medical Group, Inc. is a global orthopaedic device company specializing in the design, manufacture and marketing of reconstructive joint devices and biologics. The Company has been in business for over 50 years and markets its products in over 60 countries worldwide. For more information about Wright Medical, visit our website at www.wmt.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements made in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements reflect management's current knowledge, assumptions, beliefs, estimates, and expectations and express management's current views of future performance, results, and trends and may be identified by their use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” and other similar terms. The Company wishes to caution readers that actual results might differ materially from those described in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including the factors discussed in the Company’s filings with the Securities and Exchange Commission (including the Company’s annual report on Form 10-K for the year ended December 31, 2007, under the heading, “Risk Factors”), which could cause the Company’s actual results to materially differ from those described in the forward-looking statements. Although the Company believes that the forward-looking statements are accurate, there can be no assurance that any forward-looking statement will prove to be accurate. A forward-looking statement should not be regarded as a representation by the Company that the results described therein will be achieved. The Company wishes to caution readers not to place undue reliance on any forward-looking statement. The forward-looking statements are made as of the date of this press release. The Company assumes no obligation to update any forward-looking statement after this date.
Source: Wright Medical Group
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