Orthofix obtains exclusive global licensing rights for novel expandable vertebral body replacement device.
Orthofix International N.V. announced today that the Company has signed a License and Product Development Agreement with Stout Medical Group, LP for the development and marketing of a new expandable vertebral body replacement (VBR) and corpectomy device.
“Our agreement with Stout Medical is expected to allow us to provide a treatment for the tumor and trauma segment of the spinal market and give our surgeon customers a novel expandable corpectomy implant,” said Alan Milinazzo, President and CEO of Orthofix International. “Stout has a proven history of developing novel implant designs for the spinal market, and we are pleased to partner with them to commercialize their design.”
The initial term of the agreement is for 15 years, and gives Orthofix exclusive global licensing rights to the new device, which is expected to be introduced during the second half of 2010. According to a recent market research report the U.S. market for VBR devices is currently estimated to be approximately $77 million, with the expandable device segment growing the fastest at approximately 12%.
“We are delighted to partner with Orthofix Spinal Implants on the development and marketing of our very novel expandable VBR device,” said Tom Molz, President and CEO of Stout Medical Group.
The new device will be designed for use in corpectomy procedures during which one or more vertebral bodies are removed in connection with the removal of a tumor or due to a trauma to the spine. Expandable corpectomy devices provide in situ expansion, eliminate the need to cut the device to a specific size, and provide the surgeon with options for less invasive incisions.