Pioneer(R) Surgical Technology Acquires Angstrom(TM) Medica, Inc.

Pioneer Surgical expands footprint in Orthobiologics Market

    MARQUETTE, Mich., Oct. 24 /PRNewswire/ -- Pioneer Surgical Technology
 (PST) today announced its acquisition of Angstrom Medica, Inc.,
 headquartered in Woburn, MA. Angstrom is the first company to obtain Food
 and Drug Administration (FDA) approval for a nanotechnology device --
 NanOss(TM). NanOss chemistries enable products that are highly
 osteoconductive and can remodel over time into human bone. NanOss has
 potential application in trauma, spine and general orthopaedic markets.
 Terms of the acquisition were not disclosed. Angstrom Medica, Inc. becomes
 a wholly-owned subsidiary of PST and is part of its orthobiologics
 division.
     "Angstrom Medica and its innovative technology represent a strategic
 addition to the Pioneer family," said Matthew N. Songer, M.D., Chairman and
 CEO of PST. "This latest orthobiologic acquisition complements our mission
 by developing technology that empowers surgeons to restore patients to
 normal function with products and methods not currently available."
     NanOss, like human bone, is made of hydroxyapatite crystals. By
 controlling the material at the nanocrystalline level the resulting
 compound can have the strength of established polymer surgical implants.
 According to Angstrom's CEO Edward Ahn, Ph.D., "This biomaterial provides
 an opportunity for changing orthopaedic technology by offering surgeons and
 their patients devices that have great strength upon implantation and may
 gradually be replaced by living human bone."
     Also in 2007, PST acquired Encelle, Inc., a North Carolina firm that
 develops novel products for tissue regeneration including E-Matrix(TM), a
 sterile, injectable biopolymer designed to repair or regenerate diseased or
 damaged tissue.
     Said Wesley McDermott, PST's Vice President for New Business
 Development, "The Angstrom acquisition further expands Pioneer's position
 and opportunity in a growing orthobiologic market."
     About Pioneer Surgical Technology
     Pioneer Surgical Technology, headquartered in Marquette, Michigan, is a
 leading innovator in the design and manufacture of spinal and orthopedic
 implants. Founded in 1992, Pioneer is a true surgeon-driven spinal device
 company that promotes responsiveness through customer intimacy, and a
 commitment to innovation. Pioneer has launched several spinal implant
 systems: Quantum(TM) Spinal Rod, Pioneer(R) Anterior Cervical Plate, and
 PEEK-Plus Vertebral Body Replacement Devices. Pioneer also has received the
 European CE mark for the NUBAC(TM) Disc Arthroplasty System.
     About Angstrom Medica, Inc.
     Angstrom Medica, Inc. (http://www.angstrommedica.com) is a biomaterials
 and medical device company engaged in the development and commercialization
 of its proprietary nanocrystalline calcium phosphate technology --
 NanOss(TM). The company was founded in 2001 by Dr. Ahn and two fellow
 Massachusetts Institute of Technology (MIT) researchers. In 2005, Angstrom
 was the recipient of Frost and Sullivan's 'Excellence in Technology Award'.
 The company is currently located in Woburn, MA.
     For more information visit http://www.pioneersurgical.com.
 
 

SOURCE Pioneer Surgical Technology