Lund, Sweden, 08:30 CET, 21 June 2018 – BONESUPPORT™ an emerging leader in Orthobiologics for the management of bone voids, today provides an update on the US orders of CERAMENT BVF.
Following BONESUPPORT’s decision to set up its own distribution network in the US and terminate its current exclusive distribution agreement, as announced 17 May 2018, its current distributor, Zimmer Biomet, has cancelled the majority of its orders for a 3-month period starting in June.
In-market sales of CERAMENT BVF in the US are continuing to show good growth with this increasing demand being met from Zimmer Biomet’s current inventory and the inventory of its distributor network.
“Today’s announcement highlights the importance of BONESUPPORT taking control of its commercial platform in the US. The evaluation of potential distribution partners is progressing to plan. We expect to have a strong coverage of the US market in place in late October, positioning us to create more direct and stronger relationships with our US customer base. This enhanced commercial platform will allow us to successfully market our highly differentiated products, particularly CERAMENT G, which we aim to launch in the US market in 2021”, said Emil Billbäck, CEO of BONESUPPORT.
Zimmer Biomet retains the right to sell and distribute CERAMENT BVF on an exclusive basis until 20 October 2018, and on a non-exclusive basis until 20 April 2019.
BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bio-ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void.
BONESUPPORT’s bio-ceramic bone graft substitutes CERAMENT® BONE VOID FILLER (BVF), CERAMENT® G* and CERAMENT® V* are all based on the Company’s novel and proprietary technology platform.
The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot.
BONESUPPORT’s total sales increased from SEK 62 million in 2015 to SEK 129 million in 2017, representing a compound annual growth rate of 45%.
The Company’s research and development is focused on the continuing development and refinement of its CERAMENT technology to extend its use into additional indications by the elution of drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
In addition, BONESUPPORT is looking at opportunities to expand its product offering in the US and has entered into a strategic agreement with Collagen Matrix Inc. to market and distribute products that are complementary to CERAMENT BVF.
BONESUPPORT is listed on Nasdaq Stockholm and trades under the ticker “BONEX” (ISIN code: SE0009858152). Further information is available at bonesupport.com
*CERAMENT G: Not available in the United States, for investigational use only.
CERAMENT V: Not available in the United States.
BONESUPPORT™ and CERAMENT® are registered trademarks.
For more information contact:
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Björn Westberg, CFO
+46 (0) 46 286 53 60
Citigate Dewe Rogerson
Pip Batty, David Dible, Shabnam Bashir, Isabelle Andrews
+44 (0)20 7282 1022
This information is such information as BONESUPPORT 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 above, at 08.30am CET on 21 June 2018.