(MENAFN- PR Newswire) STOCKHOLM, July 1, 2021 /PRNewswire/ -- Following successful European regulatory clearance and market launch of Bactiguard-coated Zimmer Biomet trauma implants (ZNN Bactiguard), the initial USD 1 million milestone payment has been released.
"I am excited about our partnership with Zimmer Biomet and proud of the progress we have made thus far", says Cecilia Edström, CEO at Bactiguard.
In September 2019, Bactiguard and Zimmer Biomet partnered to develop orthopedic trauma implants with the Bactiguard technology for infection prevention, to prevent post-operative infections. European regulatory clearance was obtained in January 2021, followed by market launch in Europe and other select EMEA markets in June this year.
The partnership is based on an exclusive, global license agreement for orthopedic trauma implants. In addition to the upfront license fee paid by Zimmer Biomet at signing, the agreement includes additional milestone driven payments of USD 2 million - whereof USD 1 million has now been released.
More information on ZNN Bactiguard can be found at: znnbactiguard.com
This information is information that Bactiguard 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 below 2021-07-01, at 03.20.
For further information, please contact:
Cecilia Edström, CEO, phone: +46 72 226 23 28
About Bactiguard
Bactiguard is a Swedish medical device company with a mission to save lives. To achieve this mission, we develop and supply infection prevention solutions which reduce the risk of infections and the use of antibiotics. This way, we save significant costs for healthcare and the society at large.
The Bactiguard technology is based on a thin noble metal alloy coating that prevents bacterial adhesion and biofilm formation on medical devices. Bactiguard offers the technology through licence agreements and our BIP (Bactiguard Infection Protection) portfolio of products. Urinary catheters with Bactiguard's coating are market leaders in the USA and Japan through our licensing partner BD. Bactiguard's product portfolio also includes a non-alcoholic product line for wound care and disinfection. It effectively kills viruses, bacteria and fungi while being biocompatible, pH neutral and tissue friendly. The active ingredient hypochlorous acid is the same substance as the body's immune cells use in their defence against infectious organisms.
Bactiguard is in a strong expansion phase in the markets in Europe, China, India and the Middle East through our own product portfolio and by establishing licensing deals in new therapy areas. Bactiguard has about 180 employees around the world. Its headquarters and one of three production facilities are located in Stockholm, the other two in Malaysia. Bactiguard is listed on Nasdaq Stockholm. Read more about Bactiguard
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SOURCE Bactiguard Holding AB (publ)
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