Kensey Nash and Arthrex Announce Strategic Agreement for Extracellular Matrix Products
EXTON, Pa., June 24 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY), a regenerative medicine company, and Arthrex, Inc., a worldwide leader in sports medicine product development and educational services for orthopaedic surgeons, today announced a strategic agreement regarding products developed from Kensey Nash's unique extracellular matrix (ECM) technology.
The agreement is based upon Kensey Nash's proprietary tissue processing technology, known as the Optrix™ process, which gently disinfects tissues, inactivates viruses and removes cells while preserving extracellular matrix components. Under the agreement, Kensey Nash will develop and manufacture porcine dermis derived biologic surgical meshes, which Arthrex will market and distribute for use in sports medicine tendon repair procedures and small joint surgeries. ECM products can be used in a wide variety of surgical procedures, including sports medicine, for the reinforcement and repair of soft tissue. Specific terms of the agreement were not disclosed.
"This partnership represents another important milestone as we continue to establish Kensey Nash's leadership position as a developer of innovative regenerative medicine devices," commented Joseph W. Kaufmann, President and CEO of Kensey Nash. "Arthrex is a highly respected global leader in the sports medicine industry and we look forward to building upon our successful history together with this exciting new product line," he concluded.
About Kensey Nash Corporation. Kensey Nash Corporation is a medical device company primarily focused on regenerative medicine utilizing its proprietary collagen and synthetic polymer technology. The Company is recognized as a leader for innovative product development and unique technology in the field of resorbable biomaterials. The Company has an extensive range of products, which are sold through strategic partners in multiple medical markets, including, the cardiology, orthopaedic, sports medicine, spine, endovascular and general surgery markets.
About Arthrex, Inc. Arthrex, headquartered in Naples, Florida, is a worldwide leader in sports medicine product development and educational services for orthopaedic surgeons. Over 5,000 products for arthroscopic and minimally invasive orthopaedic surgical procedures have been developed by Arthrex and are currently marketed worldwide. For more information, visit www.arthrex.com.
Cautionary Note for Forward-Looking Statements. This press release contains forward-looking statements that reflect the Company's current expectations about its prospects and opportunities. The Company has tried to identify these forward looking statements by using words such as "expect," "anticipate," "estimate," "plan," "will," "would," "forecast," "believe," "guidance," "projection," or similar expressions, but these words are not the exclusive means for identifying such statements. The Company cautions that a number of risks, uncertainties and other important factors could cause the Company's actual results to differ materially from those in the forward-looking statements including, without limitation, the Company's continued success in its research and development efforts in its cartilage repair and extracellular matrix technologies programs, the Company's ability to enter into new partnering relationships with respect to its extracellular matrix products and the success of existing and new partners in selling the Company's extracellular matrix products, the completion of additional clinical trials in both the U.S. and Europe to support regulatory approval of future generations of its products and competition from other technologies, as well as tax and other risks associated with healthcare reform, economic conditions, and foreign currency fluctuations. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's SEC filings, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
SOURCE Kensey Nash Corporation