Healthcare Industry News: CT
News Release - January 5, 2021
Ortho Regenerative Technologies Enters Into Global License With Hanuman Pelican, Inc.Provides Ortho RTI with worldwide rights to commercialize Buoy Suspension FraCTional System in combination with Ortho-R
Provides Ortho RTI with Hanuman Buoy Suspension FraCTional System for all US clinical sites participating in Ortho-R phase I / II clinical trial for rotator cuff tears repair
MONTREAL, Jan. 5, 2021 -- (Healthcare Sales & Marketing Network) - Ortho Regenerative Technologies Inc. (CSE: ORTH) (OTCQB: ORTIF) ("Ortho RTI" or the "Company"), a clinical stage orthobiologics company focused on the development of novel soft tissue repair regenerative technologies, announced today that it has entered into a global licensing agreement (the "Agreement") with Hanuman Pelican Inc. ("Hanuman") for the use of the Buoy Suspension FraCTional System in combination with Ortho-R, Ortho RTI's lead Chitosan-PRP hybrid drug/biologic implant combination produCT.
The Agreement grants Ortho RTI an exclusive global license (excluding Japan) to use, manufaCTure, sublicense and sell the Buoy Suspension FraCTional System in combination with Ortho-R in the following fields: 1) Tendons, 2) Ligaments, 3) Meniscus, 4) Cartilage, and 5) Wound Healing (non-exclusive). Hanuman will also supply its Buoy Suspension FraCTional System as the exclusive Platelet Concentration System to be used in Ortho RTI's clinical trial at each clinical site participating in the upcoming US ORTHO-R phase I / II clinical trial for rotator cuff tears repair. Ortho-RTI will pay royalties on net sales of the Buoy Suspension FraCTional System portion of the combined Ortho-R package.
"We are very pleased to have entered into a licensing agreement with Hanuman", said Claude LeDuc, CEO of Ortho RTI. "The combination of one of the best PRP systems on the market with our Drug/Biologics implant will enhance our capabilities to deliver a successful Ortho-R U.S. phase I / II rotator cuff tear repair clinical trial and demonstrate the significant advantages of our approach to soft tissue repair regenerative medicine. In addition, this provides Ortho RTI with an important pathway for commercial sale of the combined drug/biologic implant as a combination produCT. The Buoy Suspension FraCTional System in combination with Ortho-R provides us with a complete state-of-the-art turnkey solution that will greatly enhance revenue opportunities for us and facilitate new market penetration initiatives."
Commenting on the license agreement, Scott King, President of Hanuman Medical, said: "We are pleased that ORTHO RTI has chosen Hanuman's System for autologous patient PRP that they will sell as part of Ortho-R, their proprietary Chitosan-PRP hybrid biologic implant produCT. This license further supports our view that Hanuman's Buoy Suspension FraCTional System with Tuned Density is the best technology available. ORTHO RTI adds its produCT for healing occupational and sports related injuries to tendons, meniscus and ligaments to other fields where Hanuman's ProduCTs are sold by business partners, including Orthopedics, Wound Care, and Veterinary Medicine."
About Hanuman Pelican Inc.
Hanuman Medical is a partnership of inventors who develop novel medical therapies with an accent on autologous cellular therapy devices. Hanuman partners with companies that manufaCTure, market and sell to medical specialties. The company has research facilities in Indiana and California and is headquartered in New Orleans.
About Ortho Regenerative Technologies Inc.
Ortho RTI is a clinical stage orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries. Our proprietary RESTORE technology platform is a proprietary muco-adhesive Chitosan-based biopolymer matrix, specifically designed to deliver biologics such as Platelet-Rich Plasma (PRP) or Bone Marrow Aspirate Concentrate (BMAC), to augment and guide the regeneration of new tissue in various musculoskeletal conditions. Ortho-R, our lead Chitosan-PRP hybrid drug/biologic implant combination produCT, is formulated and designed to increase the healing rates of occupational and sports related injuries to tendons, meniscus and ligaments. Other formulations are being developed for cartilage repair, bone void filling and osteoarthritis treatment. The proprietary Chitosan-PRP combination ORTHO-R implant can be direCTly applied into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. A multi- site US Ortho-R Rotator Cuff Tear Repair Pilot Phase I/II clinical trial is being planned and organized. In parallel, an FDA IND submission is planned for Q1-2021. Considering the significant potential of our technology platform, Ortho RTI continues to assess new therapeutic target uses outside of the soft tissue repair field. Further information about Ortho RTI is available on the Company's website at www.orthorti.com and on SEDAR at www.sedar.com. Also follow us on LinkedIn and Twitter.
This news release may contain certain forward-looking statements regarding the Company's expeCTations for future events. Such expeCTations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorreCT, aCTual results may differ materially from those contemplated by the forward-looking statements contained in this press release. FaCTors that could cause aCTual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
Source: Ortho Regenerative Technologies
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.