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Orthopedic and Dental Industry News Complete Archive »

Musculoskeletal News Roundup 1-Jul-10 BY LAUREN UZDIENSKI, JULY 1, 2010

Earnings
Biomet reported F4Q:10 sales of $703.0 million, up 8% over the year-ago period. Excluding dental, reconstructive sale increased by 12% over FQ4:09, with knee up 13%, hip up 8% and extremity up 33%. Dental increased by 2% during the quarter. Additionally, fixation sales increased by 6%, and spine sales increased by 1%. Growth rates exclude the effects of currency.

RSB Spine announced that 2Q:10 sales increased by 50% compared to 2Q:09 and by 27% over 1Q:10. The company also noted record sales for the month of June.

Funding
Bacterin completed a reverse merger with Bacterin International Holdings, its wholly-owned subsidiary. Bacterin is the surviving company. The company also closed a private placement of common stock and warrants, proceeds from which totaled $7.5 million. The company plans to use the funds for expenses associated with the merger and private placement and for working capital, including the expansion of its sales force.

Covalon will receive $0.15 million in research funding from the National Research Council of Canada, which will aid the company in the commercialization of their antimicrobial coatings. The Council will also offer "technical and business-oriented advisory services."

Del Palma Orthopedics raised $1.4 million of a planned $2.0 million round to support development of its extremity devices, which include a system for trigger finger. The funds were raised from four unnamed investors.

Regulatory
BioMimetic Therapeutic announced that the FDA has accepted their PMA for Augment Bone Graft for use in foot and ankle fusions. The company says they are anticipating additional feedback from the agency in the third quarter, with an advisory panel review later in 2010 or in early 2011.

Cerapedics received CE mark clearance for their i-FACTOR Flex bone graft. The i-FACTOR technology consists of anorganic bone mineral and a small peptide (P-15), which the company says acts as an attachment factor for specific integrins on osteogenic cells.

The FDA announced that on July 27, a CDRH panel will convene to discuss the PMA for Medtronic's Amplify, a BMP-2 matrix designed for single-level posterolateral lumbar fusions. The material has a different formulation and carrier than InFuse and is indicated as a treatment for degenerative disc disease.

Product Introduction and Update
Medtronic launched the Midas Rex Legend EHS Stylus Touch high-speed electric drill for spinal, cranial and orthopedic surgical procedures. The company says that this is their first electric drill with an integrated finger control.

Steerable Technologix launched their SurgiSteer laparoscopic instruments, which the company says "will exploit single-port laparoscopic surgery with steerable 5mm instrumentation." The instruments were developed from licensed technology from OrthoDynamix LLC.

Distribution
DFine signed agreements with Siad Healthcare and Reflexion Pharma for the distribution of the copany's StabiliT Vertebral Augmentation System in Italy and Morocco, respectively. The company plans to expand distribution into four additional countries within Europe and the Middle East in 2H:10.

Collaborations
Enztec has signed an agreement with a Spanish distributor MBA for the design, manufacture and supply of instruments for knee replacement surgery. MBA will distribute the instruments in Europe.

Appointments
Lanx announced that Michael DeMane has declined to assume the role of Chairman and CEO. Instead, he will assist the company as a consultant. Dr. Jeffrey Thramann, Co-founder, will remain Chairman of the Board of Directors. The company is currently seeking a CEO.

Symmetry Medical appointed Jose Fernandez to the newly-created position of Senior Vice President of New Product Development. Previously, Mr. Fernandez served as Vice President of Research and Development with Disc Motion Technologies and held various management positions in product development with Cordis Neurovascular.

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