Lund, Sweden, 08.45 CET, 17 May 2018 – BONESUPPORT HOLDING AB (publ) announces today that the current distribution agreement has been terminated and will be replaced by a network of independent distributors and its own commercial organization. This will allow BONESUPPORT to increase its market penetration while creating a stronger platform for current products and future launches in the US market.
“Taking control of our commercial platform in the US is crucial to the execution of our strategy to become a leading global orthobiologics company. We will be able to create a more direct relation with the US customers while better capitalizing the potential of our highly differentiated products, particularly CERAMENT G, which we hope will take to the market in 2021”, says Emil Billbäck, CEO of BONESUPPORT.
The company intends to create the optimal US commercial platform by:
Building its own network of independent distributors driving the sales of the BONESUPPORT’s products, to a broad range of orthopedic indications.
Extend the product offering based on new formulations of CERAMENT as well as synergistic bone graft substitute products.
Increase the own commercial organization from 12 to 23 persons.
BONESUPPORT will start selling direct on October 20th 2018.
“CERAMENT G will be a highly innovative product – the first of its kind in the US market – the recruitment of the FORTIFY IDE study, which will provide data for the PMA application of CERAMENT G in 2020, is running according to plan. Expanding our commercial footprint, establishing direct access with our customers, and bolstering our product offering in the US will allow us to build a strong and increasing foundation in the world’s largest market for bone graft substitutes.”, comments Patrick O’Donnell, Executive Vice President of Commercial Operations, North America.
The Company expects that this decided change in market commercialization eventually will generate higher sales volumes in the US. In the short term, the turnover will be less in the US. This could also lead to that the 2020 targets will be achieved later than previously communicated. We will present updated objectives during Q3 2018 after the initiated strategic review is completed.
Conference Call/Webcast Details
The Company will host a conference call and an online presentation at 09:30 am CET on Thursday 17 May.
The dial-in numbers for the conference call are:
UK: +44 20 3008 9808
SE: +46 85 063 95 49
US: +1 85 5831 5946
The presentation will also be webcast and can be accessed from the following web address:
Hosts: Emil Billbäck, CEO and Björn Westberg, CFO
BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bio-ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void.
BONESUPPORT’s marketed bio-ceramic bone graft substitutes CERAMENT® BONE VOID FILLER (BVF), CERAMENT® G* and CERAMENT® V* are all based on the Company’s novel and proprietary CERAMENT technology platform. The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot.
BONESUPPORT’s total sales increased from SEK 62 million in 2015 to SEK 129 million in 2017, representing a compound annual growth rate of 45%.
The Company’s research and development is focused on the continuing development and refinement of its CERAMENT technology to extend its use into additional indications by the elution of other drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
BONESUPPORT is listed on Nasdaq Stockholm and trades under the ticker “BONEX” (ISIN code: SE0009858152). Further information is available at www.bonesupport.com.
*CERAMENT G: Not available in the United States, for investigational use only.
CERAMENT V: Not available in the United States
BONESUPPORT™ and CERAMENT® are registered trademarks.
For more information contact:
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Björn Westberg, CFO
+46 (0) 46 286 53 60
Citigate Dewe Rogerson
Pip Batty, David Dible, Shabnam Bashir, Isabelle Andrews
+44 (0)20 7282 1022