Howmedica [Ffizer subsidiary] Acquires Advanced Bone-Grafting Technology
Friday April 24, 2:59 pm Eastern Time
Company Press Release
SOURCE: Howmedica Inc.
RUTHERFORD, N.J., April 24 /PRNewswire/ -- Howmedica Inc. today announced an agreement with Orthofix Inc. to acquire the license for BoneSource(R), an advanced bone-grafting technology for repairing broken bones and filling bone defects. Terms of the agreement were not disclosed.
The BoneSource technology was developed by the American Dental Association Health Foundation (ADAHF) and patented in 1993. ''BoneSource represents a comprehensive platform of core technology that will support numerous future developments and applications,'' said Jack O'Mahony, president of Howmedica. ''BoneSource will also give Howmedica a strong leadership position in the emerging field of biomaterials and bone-substitutes.''
Orthofix will transfer its current orthopedic clinical studies for fracture repair to Howmedica, Mr. O'Mahony said. He also emphasized that Howmedica will conduct worldwide clinical trials to establish BoneSource's safety and effectiveness for a wide range of musculoskeletal applications.
''Drawing on the full range and depth of Howmedica's expertise, and the company's worldwide leadership in the musculoskeletal device industry, we are uniquely positioned to leverage this 'next-generation' technology to the advantage of orthopedic surgeons -- and their patients -- worldwide,'' said Mr. O'Mahony. A formulation of BoneSource has already received the U.S. Food and Drug Administration's clearance for repairing skull defects and is marketed by Howmedica's Leibinger division.
Bone is the second most commonly implanted material, after blood. Moreover, the projected market for bone grafting materials is expected to exceed $2 billion by 2020. Demographic trends predict a 70% increase in the ''over 65'' population between 1990 to 2020, and as many as half of all women may fracture either a hip, wrist or spinal vertebra due to weakened bone mass associated with osteoporosis. Estimates suggest that, as a result, there will be a significant increase in the number of broken bones requiring both surgical intervention and bone grafting.
''This technology has the potential to give surgeons a safer, less painful, easily used alternative to current bone-replacement materials,'' said Jim Agresti, senior vice president of Howmedica and head of the company's trauma business. ''The use of bone from cadavers raises concern among patients about the risk of disease transmission, for example, and using a patient's own bone increases post-operative pain, along with bringing the added risk and cost of prolonged surgery. Furthermore, most currently available artificial bone-graft materials are difficult to shape and apply, or they tend to dissolve rapidly, potentially resulting in inadequate strength or requiring additional surgery.''
''In contrast, for repairing skull defects, BoneSource has been proven through several years of research to be strong, stable, biocompatible, and gradually replaced by bone,'' said Sharon Schulzki, vice president of Marketing and Product Development for Howmedica's Leibinger business. ''BoneSource sets into a hard cement in as little as 4 to 6 minutes, and converts to hydroxyapatite, the principal mineral component of bone, in about 4 hours after surgery. Because BoneSource is highly biocompatible, it provides an ideal matrix for the patient's own bone to grow into the material.''
''Howmedica plans to work closely with the ADAHF in developing future formulations using the core BoneSource technology,'' Ms. Schulzki said, ''and we will pursue the use of BoneSource as a carrier material for the delivery of bone morphogenic proteins, antibiotics and other therapeutic agents.''
Howmedica Inc., a worldwide leader in development and marketing of musculoskeletal devices and materials, is a business of the Medical Technology Group of Pfizer Inc [NYSE:PFE - news]. In 1997, Howmedica reported sales of approximately $820 million, a gain of 8 percent -- exclusive of the effects of foreign exchange -- over 1996. |
