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Panther Orthopedics Announces Medeon Biodesign's Successful Closing of Financing and Expanded Clinical Use of the PUMA System (TM)

2019-06-27 21:05 1143

SUNNYVALE, California, June 27, 2019 /PRNewswire/ -- Panther Orthopedics, Inc., a pioneer developing innovative dynamic fixation solutions for orthopedic extremity applications, is pleased to announce the successful closing of its Series B financing led by Medeon Biodesign and expanded clinical use of its PUMA System (TM).

The PUMA System (TM) obtained U.S. Food and Drug Administration 510(k) approval in early 2018, and was commercially launched in November 2018 in the United States. Through the clinical cases, it has demonstrated tremendous clinical benefits over conventional screws and flexible fixation devices without their shortcomings. The novel spring-like design of the PUMA body provides initial and continuous compression without the need to overtighten.

"Panther Orthopedics offers a novel "dynamic fixation" solution to the significant market by providing continuous compression without creep during the healing phase while allowing for physiological micro-motion. With the outstanding initial clinical experiences and additional financing backing, Panther Orthopedics can now continue to expand the clinical and commercial operations. We are exciting to observe more and more patients benefitting from this innovative flexible fixation device," said Kathy Stecco, M.D., CEO and co-founder of Panther Orthopedics.

"The novel PUMA System (TM) brings a technology to address current shortcomings in syndesmotic fixation. Nitinol use in foot and ankle surgery has exploded in recent years, demonstrating that its use is becoming more understood by surgeons. Thus, this fixation technique provides what we need - ease of use, maintenance of reduction, and dynamic fixation without creep. This fixation mimics more of the natural biomechanics of the ankle. We believe this will lead to better ankle function and clinical outcomes," said J. Kent Ellington, M.D., Orthopedic Surgeon, OrthoCarolina Foot and Ankle Institute.

"Around one million fracture fixation procedures are performed in the United States every year, and the number of procedures continues to grow, primarily due to an aging, obese population and lifestyle influences. As the lead Series B investor of Panther Orthopedics, Medeon will continue to provide resources - not only funding, but also development expertise, manufacturing capabilities, and industry connections to accelerate their development to serve this significant and growing market," said Dr. Yue-Teh Jang, Chairman and CEO of Medeon Biodesign.

About Panther Orthopedics

Panther Orthopedics, Inc., based in Sunnyvale, California, USA is developing next level dynamic fixation solutions for orthopedic trauma and sports medicine applications. Its first product, the PUMA System (TM), is currently indicated for Syndesmosis Fixation, Hallux Valgus Reconstruction, and Tarsometatarsal Fixation.

About Medeon Biodesign

Medeon Biodesign (TPEx: 6499) is a publicly traded company located in Taipei, Taiwan, and currently listed on Taipei Exchange. The company focuses on the development of medical devices for minimally invasive surgeries to treat diseases of sizable patient population, such as cardiovascular, peripheral vascular, orthopedic, neurosurgery, obesity, gastroenterology, hematology, nephrology, gynecology, urology, and plastic surgery. For more information, please visit www.medeonbio.com/en.

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Source: Medeon Biodesign, Inc.
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