May 22 2007
AxioMed Spine Corporation (ASC) announced that it has completed an agreement to add a second manufacturing site for its spinal disc replacement products at the company’s new facility in Garfield Heights, Ohio. The Polymer Technology Group, Inc. (PTG) of Berkeley, California will provide business continuity by maintaining manufacturing capability at its Berkeley, CA facility. ASC has established proprietary manufacturing processes for the unique artificial discs as well as an exclusive license for PTG’s patented polymer for applications in the lumbar and cervical spine. ASC’s first product the Freedom® Lumbar Total Disc Replacement is currently in pilot clinical studies in Europe.
The scale up of manufacturing at ASC’s facility will begin immediately and funds advanced by the Ohio Department of Development under its Innovation Ohio Loan Fund Program will be used for equipment purchases. ASC expects to manufacture the devices in its new facility by the end of this year. ASC’s mission is to develop products that restore the natural function to patients with degenerative spine disease, thus advancing the standard of care beyond fusion and first generation artificial discs. The Freedom® disc was developed and designed by a team of clinicians and experts in the fields of biomechanics, pathology, spine surgery and polymer science. ASC believes that the material characteristics of PTG’s polymer, in combination with ASC’s implant design, may provide a type of three-dimensional motion that closely matches the natural biomechanics of the spine.
Patrick McBrayer, ASC’s CEO, stated, “We are fortunate to have the opportunity to broaden our relationship with PTG and build new manufacturing operations in Ohio. We are currently working with over 60 vendors in Ohio and assume that manufacturing operations at ASC will solidify and strengthen these relationships. The State of Ohio Loan program has been essential in developing this new manufacturing endeavor. We also hope to participate in the Third Frontier grant offering and expand our operations into the significant cervical spine market to augment our lumbar spinal product offering. This would benefit all companies we work with in Ohio through new potential business activities and job opportunities.”
Bob Ward, PTG’s CEO, commented, “PTG is fortunate to have ASC as a partner in the spine field. Thorough performance testing has shown that our polymer meets ASC’s specifications for strength and viscoelastic properties as required by the dynamics of the spine and the unique ASC artificial disc design. This agreement expands our manufacturing and development capabilities as we address the rapidly growing world-wide spine market.”