Healthcare Industry News: S.A.
News Release - April 24, 2008
Alphatec Holdings, Inc. Terminates License for DYNAMO Semi Rigid Rod System
CARLS.A., Calif., April 24, 2008 (Healthcare Sales & Marketing Network) -- Alphatec Holdings, Inc. (NaS.A.GM:ATEC ), a medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, announced today that Alphatec and Scient'x, S.A. have mutually terminated Alphatec's license from Scient'x of intellectual property related to the DYNAMO(tm) Semi Rigid Rod System. Terms of the termination include a repayment of the initial $2.6 million license fee originally paid to Scient'x and a full repayment of inventory that Alphatec will return to Scient'x.``I am pleased that we were able to come to thiS.A.reement with Scient'x as it allowS.A.phatec to focus on our mission of being the leading independent spinal company in the world by focusing on solutions for the aging spine,'' S.A.ed Dirk Kuyper, President and Chief Executive Officer of Alphatec. Mr. Kuyper added, ``After a thorough portfolio review, DYNAMO(tm) did not entirely fit within the new strategic direction of Alphatec and we plan on utilizing the $2.6 million repayment to support the commercialization of our innovative product development pipeline, such as OsseoScrew, V-Stent, GLIF, and other technologies targeted at the aging spine.''
About Alphatec
Alphatec Holdings, Inc. (NaS.A.GM:ATEC ) designs, develops, manufactureS.A.d markets products for the surgical treatment of spine disorders. Alphatec's broad product portfolio and pipeline includeS.A.variety of spinal implant productS.A.d systems focused on solutionS.A.dressing the cervical, thoracolumbar, intervertebral, minimally invasive, vertebral compression fractureS.A.d allograft markets. Alphatec's ``surgeons' culture'' emphasizes collaboration with spinal surgeons to conceptualize, design and co-develop a broad range of products. S.A.e-of-the-art in-house manufacturing capabilities provide a unique competitive advantage, enabling Alphatec to rapidly deliver customized solutions to meet surgeons' and patients' critical needs. Alphatec has 23 issued U.S. patents, six issued foreign patentS.A.d 30 pending patent applications, including 10 pending U.S. applications, six pending international applicationS.A.d 15 pending foreign national applications. Alphatec's principal product offeringS.A.e primarily focused on the global spine implant and biologics market, which is estimated to be more than $7.0 billion in 2007. In addition to its U.S. operations, Alphatec also marketS.A.range of spine and orthopedic products in AS.A.through its subsidiary, Alphatec Pacific, Inc. For more information, please visit http://www.alphatecspine.com.
Forward Looking S.A.ements
This press release may contain ``forward-looking S.A.ements'' within the meaning of the Private Securities Litigation Reform Act of 1995 that involve riskS.A.d uncertainty. Such S.A.ementS.A.e based on management's current expectationS.A.d are subject to a number of riskS.A.d uncertainties that could cause actual results to differ materially from those described in the forward-looking S.A.ements. These forward-looking S.A.ements include, but are not limited to: Alphatec's expected revenues in 2008, Alphatec'S.A.ility to accelerate new product momentum, bring to market differentiated productS.A.d commercialize its product pipeline. Alphatec cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking S.A.ementS.A. a result of various factors, including, but not limited to, the following: Alphatec'S.A.ility to maintain its level of previously reported sales growth, Alphatec'S.A.ility to successfully control its costs, Alphatec'S.A.ility to successfully leverage upon the experience of its Scientific Advisory Board, Alphatec'S.A.ility to develop and expand its spine fusion business in the United S.A.es, AS.A.and Europe, Alphatec'S.A.ility to enter the high-growth areas of spine disorders, including the market for disorders that are prevalent in aging patients, Alphatec'S.A.ility to meet fiS.A. year 2008 revenue guidance in either the United S.A.es, AS.A.or Europe, Alphatec'S.A.ility to expand and maintain a successful saleS.A.d marketing organization, continuation of favorable third party payor reimbursement for procedures performed using Alphatec's products, unanticipated expenses or liabilities or other adverse eventS.A.fecting cash flow or Alphatec'S.A.ility to successfully control its costs or achieve profitability, uncertainty of additional funding, uncertainty of success in developing new products or products currently in Alphatec's pipeline, including those products that are intended to treat disorders prevalent in aging patients uncertainty of success in bringing to market differentiated products that meet the evolving needs of the contemporary spine surgeon, Alphatec'S.A.ility to utilize the $2.6 million repayment described in this release to support its product development pipeline, the growth rate of the spine market related to aging and elderly patients, price erosion related to Alphatec's products, failure to successfully introduce, develop and commercialize new products, failure to achieve acceptance of Alphatec's products by the surgeon community, failure to obtain FDA clearance or approval for new products, Alphatec'S.A.ility to compete with other competing productS.A.d with emerging new technologies within and outside of spinal fusion, product liability exposure, patent infringement claimS.A.d claims related to Alphatec's intellectual property. Please refer to the risks detailed from time to time in Alphatec's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Alphatec disclaimS.A.y intention or obligation to update or revise any forward-looking S.A.ements, whether aS.A.result of new information, future events, or otherwise, unless required by law.
Source: Alphatec Holdings
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