aap Implantate AG Licenses Proprietary Biomaterials Product to a World Leading Medical Technology Company
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aap Implantate AG Licenses Proprietary Biomaterials Product to a World Leading
Medical Technology Company
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Exclusive Ex-U.S. License for Injectable Bone Matrix
Covers Orthopedic and Spine Applications
Berlin, Germany March 28, 2012 - aap Implantate AG (XETRA: AAQ.DE), a global
medical device company focused on innovative trauma products and biomaterials
for the orthopaedic market, announced on march 23, 2012 that it has licensed one
of its proprietary injectable bone matrix products to one of the World's leading
medical technology companies.
Under terms of the exclusive license agreement, which covers the use of the
injectable bone matrix product in orthopedic and spine applications, aap will
receive a one-time license fee of $2.8 million (approximately EUR 2.1 million)
in exchange for a worldwide license, excluding the United States, to sell the
product. aap retains the U.S. marketing rights to the product, where it is
already approved for use in dental applications, and will be the sole
manufacturer of the product.
aap's broad portfolio of biomaterials includes bone cements and cementing
techniques and products for bone replacement and soft tissue regeneration. The
licensed product is a proprietary, intellectual property backed, ready-to-use,
injectable bone matrix in paste form. It consists of 100% synthetic,
nanoparticular, phase-pure hydroxylapatite and is quickly converted into bone
after three months. It is used in orthopedic, trauma, and neurosurgery
procedures to fill and reconstruct bone defects and can also be used in
conjunction with autograft or allograft as a bone graft extender.
Biense Visser, Chief Executive Officer of aap Implantate AG, said, "This license
agreement provides great validation of our biomaterials technology and is in-
line with our strategy to focus on trauma and cement products for the orthopedic
market. We have found an ideal partner with a large global sales and marketing
organization to drive increased sales of this unique injectable bone matrix
product. As the manufacturer of the product, aap will benefit from this growth
while focusing on our core trauma and bone cement businesses. The revenue from
this license agreement will strengthen aap's financial base and will be used to
support the worldwide marketing of our LOQTEQ® product family."
About aap Implantate AG
aap is a global medical device company headquartered in Berlin, Germany that
develops, manufactures and markets innovative biomaterials and implants that are
used in orthopedic procedures. The Company's products, which include a full line
of plating systems, cannulated screws and bone cement products, are primarily
used in the orthopedic specialty areas of trauma and spine repair. The Company's
products are sold through its direct sales force, distribution partners and
license agreements with OEM partners. aap's stock is listed in the Prime
Standard segment of the Frankfurt Stock Exchange. For more information, please
visit www.aap.de.
____________________________________________________
aap Implantate AG (ISIN DE0005066609)
- Prime Standard/Regulated Market - All German stock markets -
For inquiries please contact:
aap Implantate AG, Marc Heydrich, Investor Relations, Lorenzweg 5, 12099 Berlin,
Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9290, m.heydrich(at)aap.de
For more details please visit www.aap.de
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Thomson Reuters clients. The owner of this announcement warrants that:
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: aap Implantate AG via Thomson Reuters ONE
[HUG#1598035]
Unternehmensinformation / Kurzprofil:
Datum: 28.03.2012 - 16:56 Uhr
Sprache: Deutsch
News-ID 129567
Anzahl Zeichen: 4640
contact information:
Town:
Berlin
Kategorie:
Business News
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