Karolinska Development portfolio company OssDsign announces agreement for distribution of OSSDSIGN Cranial in the USA with Matador Medical Inc.
2.2.2017 08:00 | NASDAQ OMX
STOCKHOLM - February 2, 2017 Karolinska Development AB (Nasdaq Stockholm: KDEV) notes that portfolio company OssDsign AB , a Swedish designer, manufacturer and distributor of next generation implants for cranial and facial reconstruction, has today announced it has signed an agreement with Matador Medical Inc. to act as its master distributor in the US market. OssDsign recently announced FDA 510(k) clearance of OSSDSIGN Cranial PSI, a patient-specific medical implant intended for reconstruction of cranial defects.
Details from the OssDsign announcement follow:
Matador Medical was founded and is led by Paul Byerley, who was previously senior vice president at Apatech Inc, the US subsidiary of a British company that after a successful US sales expansion was acquired by Baxter Inc in 2010. OssDsign's chairman, Simon Cartmell, is the former CEO of Apatech Ltd. Matador Medical is based in Temecula, CA.
Matador Medical, as master distributor, will recruit and manage a network of sales and distribution professionals that will allow OssDsign to reach all relevant surgical centres and key opinion leaders throughout the US. The Company's sales and marketing operations are scheduled to start on March 1, 2017.
Anders Lundqvist, CEO of OssDsign, said: "We are delighted to sign this new commercial agreement with Matador Medical. Working with Matador Medical gives us a unique opportunity to access experienced sales and distribution professionals with established relations with our key US customers, allowing us to quickly get our products in front of relevant clinicians and decision-makers."
Paul Byerley, General Manager of Matador Medical, said: "Getting to know the OssDsign team and understanding the technology behind OSSDSIGN Cranial has made me realize that this is a very special product with great potential in the US market. Initial reactions from US surgeons have been positive and we are certainly excited to be able to bring OSSDSIGN Cranial to the market where we believe it will have an important impact."
Viktor Drvota, Chief Investment Officer at Karolinska Development, said: "OssDsign has got off to a flying start in 2017 and is making great progress in building a broad commercial network covering the major markets of the US and Europe for its innovative medical implants. In Matador Medical, OssDsign has a highly experience and well-connected partner with a successful commercial track record in the US, which will be crucial to support a strong launch of OSSDSIGN Cranial following its 510(k) clearance in January. "
For further information, please contact:
Jim Van heusden, CEO, Karolinska Development AB
Phone: +46 72 858 32 09, e-mail: email@example.com
Christian Tange, CFO, Karolinska Development AB
Phone: +46 73 712 14 30, e-mail: firstname.lastname@example.org
David Dible/Mark Swallow/Pip Batty, Citigate Dewe Rogerson
Phone: +44 20 7638 9571; e-mail: KDev@citigatedr.co.uk
TO THE EDITORS
About OssDsign AB
OssDsign is a Swedish medtech company dedicated to creating regenerative implants for improved healing of bone defects and deficits in skull, facial and other types of surgery. OssDsign has successfully launched its first patient specific products OSSDSIGN® Cranial and OSSDSIGN® Facial in Germany, the UK and the Nordic countries, and further global market expansion is ongoing.
By combining clinical insight with proprietary material technology and patient adapted design, OssDsign supplies an expanding range of tailored solutions for cranial repair and facial bone reconstruction. OssDsign's technology is the result of collaboration between clinical researchers at the Karolinska University Hospital, Stockholm, and material science experts at the Ångström Laboratory at Uppsala University. Main investors in OssDsign are Karolinska Development, SEB Venture Capital, Fouriertransform and Almi Invest. For more information visit www.ossdsign.com
About OSSDSIGN® Cranial
OSSDSIGN Cranial PSI is a patient specific implant intended for the reconstruction of cranial defects. It is indicated for non-load bearing applications for patients in whom cranial growth is complete. The implant is made from a proprietary calcium phosphate formulation which is reinforced by a 3D printed titanium skeleton.
About Karolinska Development AB
Karolinska Development AB is an investment company focused on identifying medical innovation and investing in the creation and growth of companies developing these assets into differentiated products that will make a difference to patients' lives and provide an attractive return on investment.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has established a portfolio of 10 companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by a team including investment professionals with strong venture capital backgrounds, experienced company builders and entrepreneurs, with access to a strong global network. For more information, please visit www.karolinskadevelopment.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Karolinska Development AB (publ) via Globenewswire
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