Musculoskeletal News Roundup 23-Dec-10
BY LAUREN UZDIENSKI, DECEMBER 23, 2010
M&A
Zimmer acquired Geneva-based Sodem Diffusion S.A., the manufacturer of SoPlus Orthopaedic Surgical Power Tools. The company will be re-named Zimmer Surgical, S.A. and will be part of Zimmer Surgical, headquartered in Dover, Ohio. Zimmer also finalized its acquisition of China-based Beijing Montagne, a mainland company that develops large joint implants and instruments.
Funding
Small Bone Innovations raised $15.0 million in Series F Preferred shares, with the round led by a fund formed by Viscogliosi Brothers, LLC. Khazanah Nasional Berhad, the investment firm of the Government of Malaysia, NGN Capital and other existing investors participated in this round of financing as well. Proceeds will be used to "drive further growth" of the STAR ankle replacement, as well as the upper limb arthroplasty and trauma reconstruction portfolio of products.
Regulatory
Eden Spine received CE mark clearance for the GIZA VBR, which the company says was designed to "save valuable O.R. time and decrease the risk of subsidence." The device is intended to replace and fuse a collapsed, damaged or unstable vertebral body due to a tumor or a fracture at one to two levels.
Suspension Orthopaedic Solutions received 510(k) clearance to market the Suspension Clavicle Fracture Fixation System and the Suspension Acromioclavicular (AC) Joint Repair System.
Intellectual Property
BioMimetic Therapeutics will receive a new patent from the Canadian Intellectual Property Office titled “Platelet Derived Growth Factor (PDGF) Compositions and Methods of Use Thereof”. The new patent will remain in force until October 2025. Once granted, it will be the first patent issued to the company providing protection in Canada. The company also has patents in the U.S., most of the European Union, Australia, New Zealand, South Africa and Mexico.
Legal
Medtronic announced that the High Court in Seoul, Korea has found that the balloon kyphoplasty device made by Taeyeon Medical Co., Ltd. infringes a valid Medtronic patent and has ordered destruction of Taeyeon's stock of the infringing device and related manufacturing equipment.
Clinical
Biomet Biologics completed enrollment for its Recover Kit, which produces autologous platelet-rich plasma to treat chronic tennis elbow. 230 patients enrolled in the multicenter, prospective, randomized, controlled, double-blind clinical trial that will be completed when the last subject enrolled reaches 24 weeks of follow-up in mid-2011.
