Orthopedic News Roundup 8-Jun-06
BY HUYEN NGUYEN, JUNE 8, 2006
Business Update: NuVasive announced that 90% of its sales force is now exclusively distributing its spine surgery products. This exclusive 175 person sales force includes both direct and independent sales representatives.
Development & Distribution Agreement: Ars Arthro Biotechnologie GmbH, a division of Arthro Kinetics, signed a four-year deal with Cell and Tissuebank Austria to create one of the first specialist tissue banks in Europe. Hologic signed a research agreement with Professor Klaus Engelke, Ph.D., to help expand Hologic's 3-D imaging system. Dr. Engelke will provide CT datasets with segmented femurs for use in the development of volumetric reference data on the Hologic QDR Discovery™ system. Dr. Engelke is the head of the Osteoporosis Research Center of the Institute of Medical Physics, University of Erlangen-N√ºrnberg in Germany.
Funding & Projects: Paradigm Spine funded a project in Sainte-Justine University Hospital Center in Montreal, Canada for the diagnostic testing of spine-related disease in children, specifically adolescent idiopathic scoliosis.
Product Introduction: Imaging3™, Inc. a developer of medical imaging devices announced that it has entered into the spinal surgery market. Its product, The Dominion™, produces 3D medical diagnostic images in real time.
Regulatory Update: Innovasis submitted an application to the FDA for a 510(k) clearance on its OpteryX™ Cervical Plate System. Approval is expected in the second half of 2006. The FDA Orthopaedic and Rehabilitation Devices Panel held a meeting last Friday to determine whether they should declassify RS Medical's bone stimulation device from a Class III device to a Class II. In a 4-2 decision, the Panel voted against downclassification.
Miscellaneous: St. Francis Medical received a total of $27 million in venture funds from its prior three rounds of financing activities. The Wall Street Journal discusses consolidation (subscription required) in the orthopedic sector and we share our thoughts on this topic.
