January 8, 2020
SeaSpine® Announces Exclusive Development and Licensing Agreement with restor3D®
CARLSBAD, Calif., Sept. 24, 2019 (GLOBE NEWSWIRE) — SeaSpine Holdings Corporation (NASDAQ: SPNE), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced that it has entered into an exclusive (field-based) development and licensing agreement with restor3d, Inc., a privately-held medical device company co-founded by Ken Gall, Professor of Mechanical Engineering at Duke University, that specializes in developing 3D-printed implants with enhanced anatomical fit and superior integrative properties. Financial terms were not disclosed.
This partnership provides SeaSpine entry into, and an opportunity to differentiate within, the 3D-printed interbody space, one of the fastest growing segments in spine. restor3d’s materials science technology complements SeaSpine’s broad and differentiated orthobiologics portfolio with the goal of driving both clinical and economic advantages. The parties plan to develop 3D-printed interbody devices that are designed specifically for a wide range of surgical approaches. SeaSpine expects to commercialize its first 3D-printed interbody devices to be developed under this agreement in the second half of 2020.
“restor3d’s well-researched architecture provides a foundation for novel 3D interbody designs that thoughtfully balance structural integrity with the biological requirements for bony integration and fusion,” said Shaeffer Bannigan, Senior Director of Product Development at SeaSpine. “This foundation allows us to tune implant properties to optimal performance, merging biomechanical requirements with biologically favorable materials and structures.”
Ken Gall, restore3d founder and Director, said, “Our proprietary three-dimensional structure is the result of years of scientific research and development in 3D metal printing. Through this collaboration, we will use science and data to deliver implants that are intentionally designed for specific interbody fusion applications.”
SeaSpine (www.seaspine.com) is a global medical technology company focused on the design, development, and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine has a comprehensive portfolio of orthobiologics and spinal implants solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. SeaSpine’s orthobiologics products consist of a broad range of advanced and traditional bone graft substitutes that are designed to improve bone fusion rates following a wide range of orthopedic surgeries, including spine, hip, and extremities procedures. SeaSpine’s spinal implants portfolio consists of an extensive line of products to facilitate spinal fusion in degenerative, minimally invasive surgery (MIS), and complex spinal deformity procedures. Expertise in both orthobiologic sciences and spinal implants product development allows SeaSpine to offer its surgeon customers a differentiated portfolio and a complete solution to meet their fusion requirements. SeaSpine currently markets its products in the United States and in approximately 30 countries worldwide through a committed network of increasingly exclusive distribution partners.
SeaSpine cautions you that statements included in this news release that are not a description of historical facts are forward-looking statements that are based on the Company’s current expectations and assumptions. Such forward-looking statements include, but are not limited to, statements relating to: the Company’s ability to differentiate within the 3D-printed interbody space; its and restor3d’s plans to develop devices designed specifically for a wide range of surgical approaches; the timing of commercialization of the first 3D-printed devices to be developed under the announced collaboration; and the ability to leverage restor3d’s architecture to tune implant properties to optimal performance and to use science and data to deliver implants designed for specific applications. Among the factors that could cause or contribute to material differences between the Company’s actual results and the expectations indicated by the forward-looking statements are risks and uncertainties that include, but are not limited to: risks inherent in the development of new medical devices, including as a result of newly initiated collaborations or the use of nascent manufacturing techniques or processes; the ability of newly launched products to perform as designed and intended; unexpected delay, including as a result of developing and supporting the launch of new products, including the fact that newly launched products may require substantial additional development activities, which could introduce further delay, or as a result of obtaining regulatory clearances; and other risks and uncertainties more fully described in the Company’s news releases and periodic filings with the Securities and Exchange Commission. The Company’s public filings with the Securities and Exchange Commission are available at www.sec.gov.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. SeaSpine does not intend to revise or update any forward-looking statement set forth in this news release to reflect events or circumstances arising after the date hereof, except as may be required by law.
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