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Conformis to sell, license some patient-specific instrumentation to Stryker
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Conformis Inc. has entered into definitive agreements to sell and license certain assets relating to patient-specific instrumentation technology to Stryker Corporation, and to develop, manufacture and supply patient-specific instrumentation for use in connection with Stryker’s knee implant offerings.
For selling, licensing and developing part of its intellectual property portfolio in order to design, manufacture and commercialize patient-specific instrumentation for use in Stryker’s knee implant offerings, Conformis will receive $14 million up-front and up to an additional $16 million in milestone payments, according to a company press release. The release also noted Conformis will supply patient-specific instrumentation to Stryker in a long-term distribution agreement.
“Innovations in health care are being driven by advancements in personalized medicine,” Mark Augusti, president and CEO of Conformis, said in the release. “Conformis is excited to partner with Stryker—a leader in orthopedic surgical innovation—to further expand CT-based solutions to the market. Such solutions are the future of health care, enabling surgeons to provide personalized care based on a patient’s unique anatomy.”
Reference:
www.globenewswire.com/news-release/2019/10/01/1923238/0/en/Conformis-and-Stryker-Execute-Development-License-and-Distribution-Agreements.html