STOCKHOLM, Feb. 9, 2022 /PRNewswire/ -- Bactiguard and Zimmer Biomet have today agreed to expand the global license partnership, that was initiated in 2019, to cover multiple product segments.
The extended exclusive license agreement covers implants for joint reconstruction (hips and knees), sports medicine, craniomaxillofacial and thoracic applications. It includes license and development fees of USD 1.5 million payable in 2022, additional contingent milestone payments of USD 7.5 million based on U.S. regulatory clearance for different product categories, and royalties on net sales following commercialization.
"Our partnership with Zimmer Biomet has developed in a very positive way over the past two and a half years. Less than two years from the start, we were able to launch ZNN Bactiguard trauma implants in Europe, and we have now agreed to expand the scope across Zimmer Biomet's product range. This is a major step forward and clearly positions the Bactiguard technology in the orthopedic space, which has been a top priority for us," says Anders Göransson, CEO.
"I am both excited and proud of our partnership and confident that it will lead to better patient outcomes. It also has the potential of expanding Bactiguard's license business significantly and making a substantial contribution to our license revenues, once we have passed the regulatory phase," Anders Göransson concludes.
In September 2019, Bactiguard and Zimmer Biomet partnered to develop orthopedic trauma implants with the Bactiguard technology, to prevent post-operative infections. European regulatory clearance was obtained in January 2021, based on Bactiguard's EC-certified Orthosyn trauma implant. The ZNN Bactiguard implants were launched in Europe and other select MEA markets in the second quarter of 2021. The registration process in the U.S. and other major markets is ongoing.
The global license agreement has now been extended to also include implants for joint reconstruction (hips and knees), sports medicine, craniomaxillofacial and thoracic applications. Which products to prioritize first in the development and registration processes will be defined in the next phase. The agreement does not cover the product portfolio (dental and spine applications) that is planned to be spun off by Zimmer Biomet to ZimVie.
For more information about ZNN Bactiguard, please visit: www.znnbactiguard.com
This information is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below 2022-02-08, at 19.15.
For further information, please contact:
Gabriella Björknert Caracciolo, CFO and deputy CEO, mobile: +46 72 141 62 49
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
220208 Bactiguard and Zimmer Biomet expand global license partnership |
