Osiris Therapeutics (Nasdaq: OSIR) has entered into an exclusive commercial and development partnership for its cartilage product, Cartiform, with Arthrex, Inc. Arthrex is a globalmedical device company and the leader in new product development and medical education in orthopaedics and sports medicine, operating in over 90 countries throughout the world.
“We are excited to enter this strategic partnership with Arthrex, the clear industry leader in sports medicine, as well as in foot and ankle devices and instrumentation, to address an unmet need in cartilage repair that demands an innovative cellular regenerative medical solution,” said Dwayne Montgomery, Osiris’ General Manager of Orthopaedics and Sports Medicine. Cartiform, a viable chondral allograft, offers a unique solution to repair and restore damaged cartilage in the knee, foot, ankle, and other major joints. Cartiform has demonstrated promising clinical outcomes.
The cartilage repair market represents a significant opportunity, with up to 500,000 patients needing treatment in the U.S. per year. Cartilage has limited ability to self-repair and the current standard of care, microfracture or bone marrow stimulation, remains unsatisfactory. Cartiform combines distinct clinical advantages of fresh stored allograft with the logistical and delivery advantages of non-viable, point of care implants.
“Arthrex is excited for the opportunity to partner with Osiris on the commercialization of the Cartiform technology. Arthrex has the product development and distribution capabilities to train and educate surgeons about the unique characteristics of Cartiform and to help them better treat their patients,” said David Shepard, Orthobiologics Director of Arthrex.
The Agreement provides Arthrex with exclusive commercial distribution rights to Cartiform. Osiris will be responsible for the manufacturing, continued research and product improvement activities. The responsibilities related to the design and conduct of future clinical development programs will be shared between both organizations.