Updated agreement expands availability of ViBone® Moldable, a next generation moldable cellular bone matrix product
DEERFIELD, Ill. and SILVER SPRING, Md., Nov. 16, 2020 (GLOBE NEWSWIRE) — Surgalign Holdings, Inc. (Nasdaq: SRGA), a global pure-play spine company focused on advancing spine surgery including through the application of digital technologies to improve patient outcomes, and Aziyo Biologics, Inc. (Nasdaq: AZYO), a commercial-stage regenerative medicine company, today announced an updated distribution agreement and expanded product offering whereby Aziyo will provide ViBone® Moldable to Surgalign for distribution in the U.S. ViBone Moldable joins Surgalign’s orthobiologic solutions to support spinal fusion, which currently include ViBone and other advanced bone graft solutions.
More about ViBone Moldable
Similar to ViBone, ViBone Moldable is a next-generation viable cell bone matrix processed using a proprietary method optimized to protect and preserve the health of native bone cells to potentially enhance new bone formation. It contains cancellous bone particles as well as demineralized cortical bone particles and fibers, delivering the necessary components for bone formation (osteoinduction, osteoconduction and osteogenesis) along with excellent handling and cohesive properties.
“We are excited about the addition of ViBone Moldable to Surgalign’s bone grafting solutions to enhance our surgeon customer experience. ViBone Moldable combines Aziyo’s expertise in viable cellular allograft bone matrix processing with handling enhancements for a better operating room experience,” said Terry Rich, President and Chief Executive Officer of Surgalign Holdings. “With this addition, Surgalign continues to focus on delivering innovative solutions for improved patient outcomes.”
“We are delighted to have the opportunity to expand our existing relationship with Surgalign, and to deliver the benefits of ViBone Moldable through their commercial organization,” said Ron Lloyd, President and CEO of Aziyo. “The orthopedic and spinal repair market is estimated to be a $2 billion market opportunity, with 1.5 million annual orthopedic and spinal repair procedures using biologic materials. We are confident that ViBone Moldable will be a great addition to the Surgalign portfolio of viable bone matrices addressing this significant market need.”
About Surgalign Holdings, Inc.
Surgalign Holdings, Inc. is a global medical technology company advancing the science of spine care, focused on delivering innovative solutions that drive superior clinical and economic outcomes. The company is building off a legacy of high quality and differentiated products, and continues to invest in clinically validated innovation to deliver better surgical outcomes and improve patient’s lives. Surgalign markets products throughout the United States and in more than 50 countries worldwide through an expanding network of top independent distributors. Surgalign, a member of AdvaMed, is headquartered in Deerfield, IL, with commercial, innovation and design centers in San Diego, CA, Marquette, MI, and Wurmlingen, Germany. Learn more at www.surgalign.com and connect on LinkedIn and Twitter.
About Aziyo Biologics
Aziyo Biologics is a commercial-stage regenerative medicine company focused on creating the next generation of differentiated products and improving outcomes in patients undergoing surgery, concentrating on patients receiving implantable medical devices. Since its founding in 2015, Aziyo Biologics has created a portfolio of commercial-stage products used in cardiovascular, orthopedic, and reconstructive specialties. For more information, visit www.Aziyo.com.
Forward Looking Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the addressable market and Surgalign’s and Aziyo’s ability to satisfy this need. These forward-looking statements are based on Surgalign’s and Aziyo’s management’s current expectations, estimates and projections about their industry, their respective management’s beliefs and certain assumptions made by such management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties, including the risks described in Surgalign’s and Aziyo’s public filings with the U.S. Securities and Exchange Commission including, but not limited to, those described under the section entitled “Risk Factors” of such filings. Any such forward-looking statements speak as of the date of this press release. Actual results may differ materially from the anticipated results reflected in these forward-looking statements. Except as required by applicable law, neither Surgalign nor Aziyo undertake any obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.