PLAINSBORO, N.J., Feb. 17, 2011 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (Nasdaq:IART) announced today that it has entered into an exclusive worldwide license and development agreement with Stout Medical Group, LP to develop and commercialize an expandable interbody device. The license allows Integra to develop a device that surgeons could implant into the disc space using minimally invasive techniques, enabling surgeons to perform a potentially safer, simpler procedure. During an interbody fusion procedure, this novel technology is designed to allow a surgeon to adjust the height in-situ according to the patient’s needs.
“The expandable interbody fusion platform is an important and innovative addition to our minimally invasive device portfolio,” said Brian Larkin, Integra’s President, Global Spine/Orthobiologics, and Head of Strategic Development. “This agreement leverages our considerable expertise in business development, and underscores our commitment to provide new technology to our spine distribution partners.”
The products derived from this technology will participate in the greater than $750 million lumbar interbody fusion device market.
“Stout Medical Group strongly believes in working with its licensing partners in the development and commercialization of its technologies. We’re very excited to be working with Integra on the expandable interbody platform,” said Tom Molz, President and CEO of Stout Medical Group.
About Integra LifeSciences
Integra LifeSciences, a world leader in medical devices, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedics, neurosurgery, spine, reconstructive and general surgery. For more information, please visit www.integralife.com
About Stout Medical Group
Founded in January of 2006, Stout develops novel technologies for the medical device industry, with a concentration in orthopedics. Stout’s goal is to provide focused engineering resources to high value medical device initiatives, exclusively licensing these technologies to partner organizations.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning the products and services provided by Integra. Such forward looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Among other things, the willingness of surgical professionals to use Integra products may affect the prospects for their use in surgical procedures. In addition, the economic, competitive, governmental, technological and other factors, identified under the heading “Risk Factors” included in Item IA of Integra’s Annual Report on Form 10-K for the year ended December 31, 2009 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results.