ORTHOCON® Announces U.S. Market Launch of HEMASORB® Absorbable Bone Hemostat Is First Product To Incorporate Syntinate™ Technology Platform
IRVINGTON, N.Y., Feb. 17, 2011 /PRNewswire/ -- ORTHOCON, Inc., a developer of implantable products designed to stop the bleeding from and to deliver drugs to bone, today announced the U.S. launch of its first commercial product, the HEMASORB Absorbable Bone Hemostat Matrix.
The HEMASORB Absorbable Bone Hemostat Matrix is a ready to use, biocompatible, water resistant, and absorbable putty that is designed to rapidly stop bleeding when applied to damaged or cut bone. HEMASORB was cleared for market introduction by the U.S. Food and Drug Administration (FDA) via the 510(k) premarket notification process. In 2010, ORTHOCON conducted a limited market introduction of this product under its development name, ORTHOstat.
"We believe that HEMASORB is an innovative product that addresses a substantial market opportunity and has the potential to become a standard of care," said John J. Pacifico, President and Chief Executive Officer of ORTHOCON. "It is easy to use; it satisfies unmet needs and it is cost-effective."
Bleeding from cut bone is a common occurrence in many operative procedures. Excessive bleeding from bone during surgery may impair the surgeon's view of the operative field, may result in the need for blood transfusions and may be associated with post-operative complications. ORTHOCON estimates that over 3.5 million patients undergoing surgeries in the U.S. and Europe each year could benefit from the intra-operative use of HEMASORB.
"HEMASORB is the first commercial product that employs our proprietary Syntinate Technology Platform," commented Richard L. Kronenthal, Ph.D., ORTHOCON's Scientific Founder. "We are currently developing a pipeline of follow-on products that will complement Syntinate's utility as a bone hemostat by exploiting its unique potential to deliver drugs directly to bone."
The Syntinate Technology Platform incorporates biocompatible and absorbable solids and liquids to create a synthetic matrix that, when applied to bone, mechanically blocks bleeding. In addition, these constituents may act as drug reservoirs allowing for site specific and extended delivery of local anesthetics, anti-infective agents, and other drugs.
"We believe that our pipeline of products, beginning with HEMASORB, is very compelling and has the potential to create significant clinical and commercial value," concluded Mr. Pacifico. "We expect that the successful market launch of our HEMASORB Absorbable Bone Hemostat Matrix will prime the market for the future introduction of an array of innovative products."
Founded in 2005, ORTHOCON develops, manufactures, markets, and sells implantable products designed to stop the bleeding from and to deliver drugs to bone.
ORTHOCON is funded by leading international venture capital investment firms. The company occupies 8,000 square feet at its new, state-of-the-art facility in Irvington, New York. For more information, please visit www.orthocon.com.
SOURCE ORTHOCON, Inc.