Artimplant has entered into an agreement with its licensee, Biomet Sports Medicine, Inc., to assume total responsibility for sales of ATR products.
Biomet has held the license rights for our Artelon® Tissue
Reinforcement (ATR) products since 2005. During 2007, the
agreement was renegotiated from exclusive to non-exclusive
for the US market. In conjunction with this, Artimplant
began prospecting the market independently with the aim of
increasing sales of ATR products more quickly.
The decision by Artimplant to terminate the license
agreement with Biomet is part of the new strategy of
focusing exclusively on its own organization and own sales.
The other license agreement, governing Artimplant's
Spacer-products, was terminated at the year-end, and
consequently we now have full responsibility for the sale
of all products on all markets.
Through our new, reinforced organization in the USA, which
has been in place since the end of last year, we have taken
a major step forward in our development. Sales at the end
of last year and the beginning of this year have been very
positive compared to previous years. We feel very
optimistic about the future and the target of achieving a
positive cash flow on a monthly basis during the fourth
quarter of this year remains firm.
Västra Frölunda, March 20, 2012
Kjell Thörnbring
For further information, please contact:
Kjell Thörnbring, CEO
E-mail: kjell.thornbring@artimplant.com
Telephone: +46 703 11 90 25
Further information at www.artimplant.com where one also
can subscribe to future press releases;
www.artimplant.com/investors-media/subscribe-to-press-releases.html
Artimplant
Artimplant is a biomaterials company focused on solutions
to problems in orthopedic and oral surgery. We restore
health through the development, production and marketing of
degradable implants that regenerate body functions and
improve quality of life. Our products, made from Artelon®,
meet unmet clinical needs and are marketed in a growing
number of therapy areas. Artimplant produces implants for
treatment of osteoarthritis in hands and feet, for shoulder
and other soft tissue injuries as well as oral
applications.
Artimplant is a public company listed on the OMX Nordic
Exchange Stockholm in the Small Cap segment and in the
healthcare sector.
Forward-looking statements
This press release contains forward-looking statements as
defined in the U.S. Private Securities Litigation Reform
Act of 1995. Readers are cautioned not to place undue
reliance on these forward-looking statements. Actual
results may differ materially from those indicated by these
forward-looking statements as a result of risks and
uncertainties impacting the Company's business
including increased competition; the ability of the Company
to expand its operations and to attract and retain
qualified professionals; technological obsolescence;
general economic conditions; and other risks detailed from
time to time in the Company's filings.
This is information which Artimplant shall make public
pursuant to the Swedish Financial Instruments Act and the
Swedish Securities Exchange and Clearing Operations Act
and/or stock market agreements. Information was made
available for publication on March 20, 2012 at 8:45 AM
(Swedish time).
distributed by | This press release was issued by Artimplant AB and was initially posted at http://www.artimplant.com/investors-media/press-releases.html?releaseid=648915 . It was distributed, unedited and unaltered, by noodls on 2012-03-20 09:41:41 AM. The issuer is solely responsible for the accuracy of the information contained therein. |