Ortoma has signed an exclusivity agreement under a memorandum of understanding (MoU) with a European company that has Chineseownership interests. With the MoU, Ortoma undertakes not to initiate discussions or negotiations with other companies with headquarters inAsia until June 30, 2019. The agreement gives the counterparty the opportunity to continue evaluating Ortomas technology and negotiatingcommercial terms with under a limited exclusivity.At the beginning of the year, the companies evaluated the opportunities for collaboration to take the Ortoma Treatment Solution (OTS) to the market, notonly in Asia but also in other parts of the world. The initial evaluation has been positive and the companies are now initiating in-depth evaluation oftechnology and commercial discussions.Linus Byström, CEO, comments: “The initial discussions not only gave the potential partner the opportunity to evaluate OTS, but also gave us anunderstanding of the their vision for the future. We are impressed by their insights in the orthopedic market and their vision for continued development. Thecompany has a strong focus on innovation and a unique solution for customized implants. To accurately position these implants with OTS would furtherstrengthen them and us in the market. Our visions for the future correspond very well. They are constantly looking for innovations that are at the forefrontand see opportunities to take OTS to a unique position for hip joint surgery and then develop it further into other areas. “Under MoU, Ortoma is free to continue discussions with companies that have headquarters outside Asia.The Chinese market for orthopedic implants is young, and only about 20 hip implant surgeries per 100,000 inhabitants are carried out per year. Thecorresponding figure for Japan is about 60, and for Sweden about 350. In China, however, around 700 000 surgeries with hip and knee implants are alreadyperformed per year, and market growth is about 20%.Ortoma Treatment Solution™ – careful planning and precise surgery.För ytterligare information vänligen kontakta:Ortomas CEO Linus Byström or Chairman of the board Gunnar Németh mail: [email protected] information is such information as Ortoma AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation. The information wasprovided through contact with the above contact person for publication on April 12th, 2019.About Ortoma AB (publ)Ortoma AB develops surgical systems for the planning and positioning of implants in hip, knee and spinal surgery. The purpose of the company’s surgicalsystem, Ortoma Treatment Solution™ (OTS) is to enable the surgeon to accurately measure and plan 3D surgery for the placement of a joint implant andduring the surgery, to optimally position the implant in the patient. Ortoma’s surgical system is aimed at providing better patient outcomes, fewercomplications and less follow-up surgeries – and thus better long-term survival rates for the implant. Another aim is to create a system that can beintegrated easily into the processes and routines that are currently used in surgeries, thereby increasing efficiency. Ortoma has approximately 1,600shareholders and the company’s B shares are noted on Spotligh Stockmarket. Globally, more than 7.5 million orthopedic procedures are performed eachyear where OTS could be used in hip, knee and spinal surgery. In Sweden last year around 42,000 surgical procedures were performed involving hip, kneeor spinal surgery. This information is such information as Ortoma AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation. Theinformation was provided through contact with the above contact person for publication on April 12th, 2019.
Ortoma signs exclusivity agreement
Published April 12, 2019
About Ortoma AB (publ)
Ortoma AB develops surgical systems for the planning and positioning of implants in hip, knee and spinal surgery. The purpose of the company’s surgical system, Ortoma Treatment Solution™ (OTS) is to enable surgeons to accurately measure and plan 3D surgery for the placement of joint implants, and during surgery, to optimally position the implant in the patient. Ortoma’s surgical system is aimed at providing better patient outcomes, fewer complications and less follow-up surgeries – and thus better long-term survival rates for implants. OTS is a system that is easily integrated into the processes and routines currently used in surgery, thereby increasing efficiency. Globally, more than 7.5 million orthopedic procedures are performed each year where OTS could be used in hip, knee and spinal surgery. In Sweden, around 42,000 surgical procedures were performed last year, involving hip, knee or spinal surgery. Ortoma’s B shares are listed on Nasdaq First North Growth Market Stockholm.