Lund, Sweden, 18:30 CET, 18 July 2018 – BONESUPPORT™, an emerging leader in orthobiologics for the management of bone voids, announces that Michael Diefenbeck MD PhD, BONESUPPORT’s Chief Medical Officer, has been appointed to assume a broader role as Head of R&D, Medical and Clinical Affairs.
Emil Billbäck, CEO of BONESUPPORT, commented: “We are pleased to announce the expansion of Michael’s role to head of R&D, Medical and Clinical Affairs, where his experience at BONESUPPORT, both as Chief Medical Office and prior to this as an independent clinical advisor, as well as his clinical experience as an orthopedic surgeon specializing in trauma care and bone infections, will continue to be extremely valuable.
We remain focused on progressing FORTIFY to allow for a planned CERAMENT® G PMA submission in the US in 2020, generating clinical data in our key target indications, as well as broadening our product offering through new CERAMENT® formulations. Longer term we are looking to add innovative products with potential to be market disruptive, selected from our innovative pipeline.”
Jerry Chang, Executive Vice President of R&D, is leaving the Company and will transfer to a role as independent consultant, where he will be supporting BONESUPPORT in certain projects.
Both changes are effective immediately.
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 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 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 drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
In addition, BONESUPPORT is looking at opportunities to expand its product offering in the US and has entered into a strategic agreement with Collagen Matrix Inc. to market and distribute products that are complementary to CERAMENT BVF.
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
This information is such information as BONESUPPORT HOLDING AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18.30 CET on 18 July 2018.