BORDEAUX, France & BOSTON--(BUSINESS WIRE)--Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in implants for orthopedic surgery and the distribution of technological medical equipment, today announced the launch of the MIS range, a minimally invasive pedicle screw positioning system, a result of joint developments with its partner Sanyou Medical.
Ludovic Lastennet, Implanet’s CEO, commented: “With the launch of this range of minimally invasive pedicle screws, we are reaffirming our ability to innovate by developing products that provide a response to both surgeons’ requirements and their patients’ pathologies, thus significantly reducing the trauma open surgery can cause. This first innovation in partnership with Sanyou Medical also illustrates the strength of this alliance concluded at the end of 2022 with one of China’s foremost manufacturers of medical devices. We have been able to swiftly share our respective expertise to develop this first range, which supplements and strengthens our positioning in the treatment of adult spine disorders”.
Minimally invasive spine surgery was developed to treat spinal pathologies while limiting tissue damage, Bleeding, and post operative infection, with the goal of faster recovery.
The pedicle screw system proposed by Implanet consists of latest generation implants and a single set of instruments. The range of pedicle screws and associated implants provides surgeons with a comprehensive solution for treating degenerative, traumatic or tumoral spine pathologies.
Within the framework of this European commercial launch, Implanet has initiated system demonstrations in various health centers in Europe and has already received its first orders in June 2023.
Cash position
At May 31, 2023, Implanet had a cash position of €1.51 million.
As a reminder, the payment of the balance of the MADISONTM business, totaling €2.30 million, is spread over time depending on the achievement of certain regulatory milestones relating to CE marking, with €1.45 million of this figure received as expected during the second quarter of 2023.
Given these elements, combined with short-term actions to optimize cash flow, the Company considers that it has the means to cover its expected business financing requirements through to the end of 2023.
The Company is actively studying several financing solutions in order to support the commercial development of its medical devices.
Upcoming financial events:
- H1 2023 revenue, July 11, 2023, after market
- H1 2023 results, September 19, 2023, after market
About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery and distributing medical technology equipment. Its activity revolves around a comprehensive innovative solution for improving the treatment of spinal pathologies (JAZZ®) complemented by the product range offered by Orthopaedic & Spine Development (OSD), acquired in May 2021 (thoraco-lumbar screws, cages and cervical plates). Implanet’s tried-and-tested orthopedic platform is based on the traceability of its products. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, the CE mark in Europe and ANVISA approval in Brazil. In 2022, IMPLANET entered into a commercial, technological and financial partnership with SANYOU MEDICAL, China's second largest medical device manufacturer. IMPLANET employs 43 staff and recorded a consolidated revenue of €8.0 million in 2022. Based near Bordeaux in France, IMPLANET opened a US subsidiary in Boston in 2013. IMPLANET is listed on the Euronext Growth market in Paris.
For further information, please visit www.Implanet.com.
