Regeneration Technologies Inc. And Wright Medical Group, Inc. Enter Agreement To Develop Advanced Biomaterial Implants For Foot And Ankle Surgeries
ALACHUA, Fla., Feb. 12 /PRNewswire-FirstCall/ -- Regeneration Technologies, Inc. (RTI) , the Florida-based processor of orthopedic and other biologic implants, announced today that it has signed an agreement with Wright Medical Group, Inc. , a global orthopaedic medical device company specializing in the design, manufacture and marketing of reconstructive joint devices and biologics, to develop advanced xenograft implants for use in foot and ankle surgeries.
Under the agreement, Wright Medical will design and distribute the implants, while RTI will develop, manufacture and supply Wright's designs. The contract will be effective immediately.
"Regeneration Technologies is pleased to partner with Wright Medical, a global leader in orthopedics, for our first xenograft manufacturing agreement," said Brian K. Hutchison, RTI's chairman, president and chief executive officer. "The biologic matrix used for these implants provides a biocompatible, sterile biomaterial that can be used as a bone void filler in applications like foot and ankle surgeries. What's more, these implants will also offer the benefits of RTI's patented BioCleanse(R) Tissue Sterilization Process, which enables delivery of sterile biologic implants with improved biocompatibility and preserved structural integrity."
The new implants for the foot and ankle market will be marketed by Wright under the CANCELLO-PURE(TM) brand. A multi-purpose wedge version of the product will be made available in the second quarter of 2007, with indication- specific product configurations scheduled for the second half of 2007.
"Wright Medical is committed to bringing innovative implant and biologics solutions to the foot and ankle surgery market" said Gary Henley, Wright's President and Chief Executive Officer. "Our agreement with RTI will enable us to launch products that are highly complementary to our current offering of leading technologies in this dynamic segment."
About Wright Medical Group, Inc.
Wright Medical Group, Inc. is a global orthopaedic medical device company specializing in the design, manufacture and marketing of reconstructive joint devices, extremity 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.
About Regeneration Technologies, Inc.
RTI processes allograft and xenograft tissue into shaped implants for use in orthopedic and other surgeries with a commitment to science, safety and innovation.
RTI also holds the patents on BioCleanse, the only proven tissue sterilization process validated to eliminate viruses, bacteria, fungi and spores from tissue without impacting the structural or biomechanical integrity of the tissue. The company has distributed more than half a million allograft implants sterilized with the BioCleanse process with zero incidence of infection. RTI is accredited by the American Association of Tissue Banks and was named a 2004 Technology Pioneer by the World Economic Forum.
Except for historical information, any statements made in this press release about the company's anticipated financial results, future operational results, regulatory approvals or changes to the company's agreements with its distributors are forward-looking statements subject to risks and uncertainties, such as those described in the company's public filings on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results reflected in these forward-looking statements. Copies of the company's SEC filings may be obtained by contacting the company or the SEC or by visiting RTI's web site at www.rtix.com or the SEC's web site at www.sec.gov.
Regeneration Technologies, Inc.CONTACT: Thomas F. Rose, VP and CFO, or Wendy Crites Wacker,wwacker@rtix.com, both of Regeneration Technologies, Inc., +1-386-418-8888
Web site: http://www.rtix.com/http://www.wmt.com/