NuVasive Announces Strategic Partnership With Biedermann Technologies To Access Intellectual Property And Co-Develop State-of-the-Art Complex Spine Solutions
Biedermann Technologies' leading innovations to be available with NuVasive's RELINE® posterior fixation system to create differentiated adult and pediatric technology solutions
SAN DIEGO and DONAUESCHINGEN, GERMANY, Oct. 9, 2018 /PRNewswire/ -- NuVasive, Inc. (NASDAQ: NUVA), the leader in spine technology innovation, focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions, today announced it has entered into a strategic partnership with Biedermann Technologies GmbH & Co. KG, a company that holds a broad and extensive patent and technology portfolio in the fields of spinal and extremity surgery, based in Donaueschingen, Germany.
Biedermann Technologies is well regarded for its world-class design expertise within many medical device industries and holds one of the most comprehensive and innovative patent portfolios in the field of spinal surgery. Within the terms of the license and services agreement, Biedermann Technologies has granted NuVasive licenses to intellectual property relating to its spinal technology portfolio.
Specifically, certain Biedermann Technologies' proprietary screw innovations will be integrated into the NuVasive RELINE® portfolio, offering surgeons a superior solution to treat complex spinal pathologies in both the adult and pediatric populations for open, as well as minimally invasive surgery, with customized screw placement and ability to facilitate various corrective maneuvers based on the clinical needs of the patient. NuVasive's RELINE system is the only technology on the market to offer a single tulip that accepts three posterior fixation rods of different diameters and is integrated into its proprietary Integrated Global Alignment (iGA®) platform designed to achieve global alignment across spinal procedures. This combination of Biedermann Technologies' propriety screw technology and NuVasive's RELINE system is expected to be commercially available to surgeons in the first half of 2019.
Biedermann Technologies will also provide services to NuVasive in connection with the development of its next-generation RELINE complex spine system to support three foundational clinical pillars: surgical efficiency, operative reliability and procedural versatility.
"Partnering with Biedermann Technologies —a highly innovative medical device design powerhouse—coupled with NuVasive's best-in-class engineering teams and innovation prowess—will accelerate the development and time-to-market to put the most advanced posterior fixation solutions in the hands of our surgeon partners," said Matt Link, executive vice president, Strategy, Technology and Corporate Development of NuVasive. "This partnership will help create better, more reproducible clinical outcomes in some of the hardest to treat spine pathologies, and further demonstrates our commitment to R&D investments to create the future of leading complex spinal innovation."
"Significant challenges demand smart collaborations," said Lutz Biedermann, founder and president of Biedermann Technologies. "And reconstructive spine surgery of complex deformities and instabilities of all age groups is still such a significant clinical challenge. With this in mind, I welcome the opportunity to work with NuVasive's very talented and skilled organization to offer clinically meaningful solutions to the global spine community."
NuVasive will showcase the upcoming RELINE system featuring Biedermann Technologies' innovations at the Scoliosis Research Society Annual Meeting held October 10-13, 2018 in Bologna, Italy.
About NuVasive
NuVasive, Inc. (NASDAQ: NUVA) is the leader in spine technology innovation, focused on transforming spine surgery and beyond with minimally disruptive, procedurally integrated solutions designed to deliver reproducible and clinically-proven surgical outcomes. The Company's portfolio includes access instruments, implantable hardware, biologics, software systems for surgical planning, navigation and imaging solutions, magnetically adjustable implant systems for spine and orthopedics, and intraoperative monitoring service offerings. With over $1 billion in revenues, NuVasive has an approximate 2,400 person workforce in more than 40 countries serving surgeons, hospitals and patients. For more information, please visit www.nuvasive.com.
About Biedermann Technologies
Biedermann Technologies GmbH & Co. KG is a privately held company based in the South of Germany and is the owner and guardian of a substantial patent and technology portfolio for specialized orthopedic markets. For the last 25 years, Biedermann Technologies has successfully licensed numerous patents and related technologies to several key players in the orthopedic and neurosurgical field.
Forward-Looking Statements
NuVasive cautions you that statements included in this news release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause NuVasive's results to differ materially from historical results or those expressed or implied by such forward-looking statements. The potential risks and uncertainties which contribute to the uncertain nature of these statements include, among others, risks associated with acceptance of the Company's surgical products and procedures by spine surgeons, development and acceptance of new products or product enhancements, clinical and statistical verification of the benefits achieved via the use of NuVasive's products (including the iGA® platform), the Company's ability to effectually manage inventory as it continues to release new products, its ability to recruit and retain management and key personnel, and the other risks and uncertainties described in NuVasive's news releases and periodic filings with the Securities and Exchange Commission. NuVasive's public filings with the Securities and Exchange Commission are available at www.sec.gov. NuVasive assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
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