CARLSBAD, Calif., Nov 5, 2009 (GlobeNewswire via COMTEX News Network) — Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, announced today that it has entered into a supply and distribution agreement with ETEX Corporation, pursuant to which ETEX will provide Alphatec Spine non-exclusive rights to market and sell ETEX’s EquivaBone and CarriGen(R) products in the United States and Europe, excluding Spain.
EquivaBone is a proprietary combination of demineralized bone matrix (DBM) and nanocrystalline calcium phosphate that sets hard in vivo. EquivaBone is cleared by the F.D.A. for use in posterolateral spinal fusion. This differentiated product is both osteoconductive and osteoinductive. Unlike other osteobiologics, EquivaBone sets hard and remains in place once implanted. Alphatec Spine will immediately begin marketing and selling EquivaBone in the United States.
CarriGen is a synthetic bone substitute that utilizes the same proprietary nanocrystalline calcium phosphate technology that is found in EquivaBone. CarriGen is currently under a 510(k) review with the F.D.A., and is not available for sale. As a pure synthetic, CarriGen is designed to set hard, and has compressive strength comparable to that of cancellous bone. CarriGen has high porosity which allows it to absorb saline and/or blood when mixed. Alphatec Spine expects to distribute CarriGen in the United States and Europe in the first half of 2010.
Additionally, pursuant to the supply and distribution agreement, Alphatec Spine has been granted a right of first negotiation with respect to certain technologies in the ETEX development pipeline for a non-exclusive distribution by Alphatec Spine.
“As part of Alphatec Spine’s biologics strategy, we believe this supply and distribution agreement with ETEX will bolster our position in biologics solutions for spinal disorders,” stated Dirk Kuyper, Alphatec Spine’s President and CEO. Mr. Kuyper added, “We are extremely pleased to be a partner with ETEX as they have proven themselves to be a strong leader in the development of unique synthetic materials.”
The bone graft and bone substitution market in the United States for 2009 is estimated to be greater than 300 million dollars.
