AUSTIN, Texas, Jan. 21, 2016 (GLOBE NEWSWIRE) — LDR Holding Corporation (Nasdaq:LDRH), a global medical device company focused on designing and commercializing novel and proprietary surgical technologies for the treatment of patients suffering from spine disorders, today announced that, through its wholly-owned subsidiary LDR Médical, SAS, it has made a minority investment in Poly-Shape, SAS, a French manufacturing company specializing in laser sintering, and entered into an exclusive partnership with Poly-Shape for the development of spinal implants. The agreement combines LDR’s spinal expertise and innovative approach to implant design with Poly-Shape’s proprietary, additive manufacturing methods.
Christophe Lavigne, President and CEO of LDR, noted, “As a company with a passion for innovation, LDR is very pleased with this alliance. Poly-Shape has developed a reputation for its novel manufacturing techniques, and for the production of parts that meet the rigorous quality and functional standards of its clients, which include Formula One™ race teams and companies developing aerospace applications. Access to this experience and capability supports our philosophy of utilizing cutting-edge technology to bring high-quality spinal implants and instruments to our surgeon customers and their patients. The collaboration will help us continue to develop and deliver best-in-class products for Minimal Implant Volume (MIVo) spinal surgery.”
Stéphane Abed, co-founder and CEO of Poly-Shape, added, “Poly-Shape is excited to partner with LDR and to leverage our additive manufacturing expertise, proven in aerospace and racing, to produce novel spinal implants that will benefit patients and physicians. I believe LDR is an ideal partner for Poly-Shape in that we share a similar philosophy based on innovation that provides true, measurable benefits. Our co-development will result in spinal implants with more complex geometries and unique features which are free from the limits that may be associated with conventional manufacturing methods.”
The agreement was signed in the fourth quarter of 2015, and included additional investment by ALIAD, the venture capital affiliate of Air Liquide, a world leader in gases, technologies and services for industry and health. LDR will hold a seat on the Poly-Shape Board of Directors. Initial projects have already been initiated with the expectation to launch newly designed spinal implants produced with Poly-Shape technology as early as mid-2017.
The financial terms of the investment and agreement were not disclosed.
Formula One™ is a trade mark of Formula One Licensing B.V. None of the Formula One group of companies is affiliated with, or endorses, sponsors or supports Poly-Shape or LDR or their respective products or services.
Poly-Shape, a subsidiary of the French group Upperside, is headquartered at Saint-Pierre-du-Perray in the Paris metropolitan area. Founded and chaired by Stéphane Abed, Poly-Shape employs approximately 60 people and operates two production plants, one in Salon-de-Provence and one in Saint-Pierre-du-Perray, as well as a sales and marketing facility in the Aquitaine region. Outside France, the company has a presence in Spain and also in Rome, Italy, through Poly-Shape Italia.
About LDR Holding Corporation
LDR Holding Corporation is a global medical device company focused on designing and commercializing novel and proprietary surgical technologies for the treatment of patients suffering from spine disorders. LDR’s primary products are based on its exclusive Mobi® non-fusion and VerteBRIDGE® fusion technology platforms and are designed for applications in the cervical and lumbar spine. These technologies are designed to enable products that are less invasive, provide greater intra-operative flexibility, offer simplified surgical techniques and promote improved clinical outcomes for patients as compared to existing alternatives. In August 2013, LDR received approval from the FDA for the Mobi-C cervical disc replacement device, the first and only cervical disc replacement device to receive FDA approval to treat both one-level and two-level cervical disc disease. For more information regarding LDR Holding and the Mobi-C Cervical Disc, visit www.ldr.com or www.cervicaldisc.com.
This press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief or current expectations of LDR and members of its management team with respect to LDR’s future business operations, statements regarding the future results of LDR’s investment in, and collaboration with, Poly-Shape, including LDR’s ability to launch newly designed spinal implants with Poly-Shape technology, as well as the assumptions upon which such statements are based. Factors that could cause actual results to differ materially from those contemplated within this press release can also be found in LDR’s Risk Factors disclosure in its Annual Report on Form 10-K, filed on February 20, 2015, and in LDR’s other filings with the SEC. LDR disclaims any responsibility to update any forward-looking statements.
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