June 9, 2016 – Scottsdale, AZ – Lattice Biologics Ltd. (TSX-V: LBL) (OTCBB: BLVKF) (the “Company”) announced today that it has been selected by a major hospital group in the southwest U.S. as an approved vendor. This decision will add six new hospitals to the list of facilities currently utilizing the Company’s high quality allograft products, creating the potential for a substantial increase in future sales.
Download the full press release here.
These new hospitals will benefit from the breadth of Lattice Biologics’ allografts in a wide variety of applications, such as:
- Enhancing fusion in spine surgery
- Enhancing breast reconstruction post mastectomy for breast cancer patients
- Sports medicine indications, including ACL repair
- Promotion of bone regeneration in foot and ankle surgery
- Promotion of cranial healing following neurosurgery
- Enhancing wound repair in burn victims
- Subchondral bone defect repair in knee and other joint surgeries
“Lattice Biologics is extremely pleased this well respected hospital group has approved our products,” said Lattice Biologics CEO, Guy Cook.
“We feel honored knowing that strong surgeon demand for our best in class allografts was instrumental in this decision. We continue to see strong demand for our products and this key approval, which I referenced in our recent Q2 results earnings call, is expected to substantially strengthen our projected revenues.”
Strong Sales Outlook: The Company’s products currently reach patients through several main channels, including: surgeon specification, distributor lines, and hospital approvals. Some of Lattice Biologics’ key surgeons are selected to be members of the Company’s Scientific Advisory Board (SAB) to utilize products, participate in pre-clinical trials, and provide expert feedback and user insight.
The hospital group’s pre-approval decision is especially significant as it will allow seven of Lattice Biologics’ current SAB members who operate at the group’s facilities to begin utilizing the Company’s products. Lattice Biologics’ SAB members include surgeons specializing in: plastic surgery and reconstruction, spine surgery, oncology, neurology, sports medicine, foot and ankle surgery, and burn and wound care.
The Company expects that each surgeon could purchase between $1-3 million USD per year in products. As such, the addition of these initial seven surgeons at this hospital group could translate into a significant increase in revenues.
In addition to authorizing existing SAB members to utilize the Company’s allograft products in their procedures, the pre-approval is also meaningful in that it opens the door for all surgeons at these facilities, making greater utilization possible.
Revolutionary High-Throughput Precision Chemotherapy Screening Research: On April 15th, 2016, the Company announced the commencement of an innovative new cancer screening study with the esteemed Sunnybrook Research Institute (SRI). The goal of the study is to demonstrate the life-saving speed, precision, and reliable treatment analytics produced by high-throughput cancer screening methods, in combination with Lattice Biologics’ unique technology, which is geared to accurately mimic the natural cancer tumor microenvironment.
This study will utilize Lattice Biologics’ proprietary ECM technology to improve breast and ovarian cancer treatment through personalized diagnostics. The technology is revolutionary in its ability to accurately recreate complex tumor microenvironments which allows us to grow biopsies from patients’ own cancer tumors in the laboratory, subject them to multiple anti-cancer agents, and observe the resulting behaviors all while sustaining natural conditions. The process is anticipated to provide a never-before-seen understanding of how individual patients’ tumors respond to specific treatments, allowing physicians to prescribe anti-cancer treatments with new accuracy.
Lattice Biologics is currently offering this unparalleled trial diagnostic service free of cost to a limited number of surgeons using the Company’s AdMatrix ADM Dermal Scaffold allografts for post-mastectomy breast reconstruction surgeries. As such, the Company’s SAB members and additional surgeons at this hospital group will be able to qualify for eligibility to receive zero-cost access to what we hope will be the fastest and most clinically predictive cancer diagnostic.
“With the announcement of this new approval, we are able to begin gathering more clinical data on our unique processing methods as well as the precision cancer diagnostic tool,” said Guy Cook.
(View the Cautionary Statement on Forward-Looking Information included in the full press release.)
Learn more about Lattice Biologics Products: http://www.latticebiologics.com/products/
