Orthopedic News Roundup 1-Jun-06
BY HUYEN NGUYEN, JUNE 1, 2006
Appointment: A medical imaging company ONI Medical appointed Victor Ruiz to Vice President, of the Corporate Strategy and Marketing division. Mr. Ruiz's past experience include world-famous imaging companies: GE Medical Systems and Cardinal Health Inc.
Clinical Update: LDR Spine announced that it has enrolled the first fifteen patients for its Mobi-C®, the second-generation disc prosthesis intended for the cervical spine. At the 12th European Society of Sports Traumatology, Knee Surgery and Arthroscopy (ESSKA) meeting in Innsbruck, Austria, ReGen gained some popularity as four presentations were presented regarding its CMI™ device.
Mergers & Acquisitions: Headquartered in San Francisco, CA, Osteologix, Inc. develops pharmacology product to treat osteoporosis. The Company announced it has completed a reverse merger with Castle & Morgan Holdings, Inc. ("CMHN"). Among other things, the agreement will allow Osteologix A/S to be the surviving corporation as a result of share exchange between CMHN and Osteologix. CMHN will also change its name to Osteologix, Inc.
Advanced BioHealing, Inc. (ABH) is a wound management company based in New York. The Company has acquired the Dermagraft® and TransCyte® product lines from Smith & Nephew for an undisclosed amount. Dermagraft® is intended for the treatment of diabetic foot ulcer and TransCyte® is indicated temporary wound covering of burn wound.
Name Change: In order to reflect its current operation, dj Orthopedics, Inc. has changed its corporate name brand to DJO Incorporated and also launched an enhanced version of its corporate website.
Private Placement: Osteologix, Inc. announced it has raised $10 million in private placement financing led by Rodman & Renshaw and Roth Capital Partners. Nordic Biotech was one of the primary investors in this financing and was previously been the sole investor of Osteologix.
Product Update: Advanced Bio-Surfaces® reported that ten patients have received the OrthoGlide™ Medial Knee Implant in the U.S. The OrthoGlide™ is intended to treat patients with moderate osteoarthritis of the medial compartment.
Regulatory Update: Regeneration Technologies (RTI) received a CE Mark approval for its Sterling® product line in Europe. The Sterling® implants are used in spinal, sports medicine and general orthopedic surgeries. Smith & Nephew announced it has received an FDA approval for a label amendment on its VERSAJET™. Indication is currently for advanced surgical wounds, the amended label includes chronic and acute wounds. Medistem Laboratories, Inc. is a biotechnology company involving in developing next-generation medical therapies using non-controversial adult stem cell. The Company filed application for a U.S. patent regarding its cellular technology to treat lower back ailments.
Miscellaneous: For two-consecutive years in a row, ArthroCare was named one of the fastest-growing technology companies in the United States by Business 2.0.'s June 2006 edition. Separately, the Company is investing in building a new plant is Costa Rica which is budgeted for $5 million. St. Joseph Regional Health Center has bought a new surgical suite from Stryker called, Stryker Orthopedic Navigation System, for its Orthopedics program. A Robert Wood Johnson University Hospital in New Jersey announced that its surgeon, Dr. David Harwood, is one of approximately 50 surgeons in the U.S. offering the Birmingham Hip Resurfacing (BHR) System from Smith & Nephew.
