LONDON, Jan. 12, 2016 /PRNewswire/ -- Smith & Nephew plc (NYSE: SNN; LSE: SN), the global medical technology business, announces the acquisition of BST-CarGel®, a first-line cartilage repair product used along with microfracture and other bone marrow stimulation techniques for the initial treatment of most sizes of focal cartilage tears. Through this transaction, an affiliate of Smith & Nephew plc will acquire ownership of all product and intellectual property assets related to BST-CarGel from Piramal Healthcare (Canada) Limited, based in Montreal, Canada, an affiliate of the Piramal Enterprises Limited.
Approved for use in a number of countries around the world, including Australia, Canada and most of Europe, BST-CarGel is a biopolymer-based solution that is mixed with a patient's blood and implanted into the joint following a microfracture procedure. BST-CarGel can be delivered arthroscopically and can be used to treat damaged cartilage in synovial joints such as the knee, hip, ankle and shoulder. Once implanted, it acts as a scaffold, adhering to the cartilage surface to stabilize the blood clot while new cartilage is regenerated.
An international, Level 1, randomized clinical trial involving 80 patients with grade III and IV femoral cartilage lesions demonstrated that microfracture with BST-CarGel yielded statistically significant improvements in both quantity and quality of repair tissue when compared to microfracture alone at one and five years post-op.i BST-CarGel also resulted in fewer structural failures after five years – offering added consistency to microfracture cases. ii
"BST-CarGel augments our existing joint repair portfolio with a new option that is differentiated with strong clinical evidence and targets an area of significant patient need and surgeon demand," explains Scott Schaffner, Vice President, Sports Medicine for Smith & Nephew. "We are committed to seeking and investing in next-generation technologies to widen access across our global customer base."
Terms of the transaction were not disclosed.
Microfracture is a surgical option for treating small areas of damaged articular cartilage. During the procedure, the cartilage area is prepared by removing loose or damaged tissue. A surgical tool is then used to create a series of small, microfracture holes to access the bone's vascular layer. When blood cells from the vascular layer travel through these holes to the bone's surface, they can stimulate new cartilage growth. Microfracture surgery is not recommended for patients with widespread cartilage damage such as arthritis.
About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 14,000 employees and a presence in more than 100 countries. Annual sales in 2014 were more than $4.6 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).
For more information about Smith & Nephew, please visit our corporate website www.smith-nephew.com, follow @SmithNephewplc on Twitter or visit SmithNephewplc on Facebook.com
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith & Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith & Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith & Nephew are qualified by this caution. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith & Nephew's expectations.
™ Trademark of Smith & Nephew. Certain marks registered US Patent and Trademark Office.
i Stanish WD, McCormack R, Forriol F, Mohtadi N, Pelet S, Desnoyers J, et al. Novel scaffold-based BST-CarGel® treatment results in superior cartilage repair compared with microfracture in a randomized controlled trial. J Bone Joint
Surg Am. 2013;95:1640-50.
ii Shive MS, Stanish WD, McCormack R, Forriol F, Mohtadi N, Pelet S, Desnoyers J, Methot S, Vehik K, Restrepo A, BST-CarGel® treatment maintains cartilage repair superiority over microfracture at 5 years in a multicenter randomized controlled trial. Cartilage 2015, Vol. 6(2) 62-72
SOURCE Smith & Nephew