SAN DIEGO, Oct. 8 /PRNewswire-FirstCall/ -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced today the license of its "insert and rotate" method technology to Theken Spine, LLC.
Under the agreement, Theken Spine was granted a non-exclusive license to use NuVasive's patented "insert and rotate" method of US Patent No. 6,290,724 in exchange for royalty payments to be made to NuVasive. The patented "insert and rotate" method is a means of inserting a device between adjacent vertebrae and then rotating the device for the purpose of separating and stabilizing those vertebrae.
Commenting on the patent license agreement, Alexis V. Lukianov, Chairman and Chief Executive Officer, said, "We view this license arrangement as a solid validation of our unique and growing Intellectual Property platform. We commend Theken Spine for their cooperation in working to conclude this agreement."
NuVasive is a medical device company focused on the design, development and marketing of products for the surgical treatment of spine disorders. The Company's product portfolio is focused on applications in the over $3.6 billion U.S. spine fusion market. The Company's current principal product offering includes a minimally disruptive surgical platform called Maximum Access Surgery, or MAS, as well as a growing offering of cervical and motion preservation products.
The MAS platform offers advantages for both patients and surgeons such as reduced surgery and hospitalization time and faster recovery. MAS combines three categories of current product offerings: NeuroVision a proprietary software-driven nerve avoidance system; MaXcess(R) a unique split-blade design retraction system; and specialized implants, like SpheRx(R) and CoRoent(R), that collectively minimize soft tissue disruption during spine surgery while allowing maximum visualization and surgical reproducibility. NuVasive's product offering is also focused on cervical internal fixation products and its R&D pipeline emphasizes both MAS and motion preservation.
NuVasive cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause NuVasive's results to differ materially from historical results or those expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to: the uncertain process of seeking regulatory approval or clearance for NuVasive's products or devices, including risks that such process could be significantly delayed; the risk that we could become engaged in litigation concerning our intellectual property, including the risk our patents (including patents covering our "insert and rotate" technology) could be invalidated because of unknown prior art or other reasons; the risk that products may not perform as intended and may therefore not achieve commercial success; the risk that competitors may develop superior products or may have a greater market position enabling more successful commercialization; and other risks and uncertainties more fully described in NuVasive's press releases and periodic filings with the Securities and Exchange Commission. NuVasive's public filings with the Securities and Exchange Commission are available at www.sec.gov. NuVasive assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
Kevin C. O'Boyle
EVP & Chief Financial Officer
Nick Laudico / Zack Kubow
The Ruth Group
646-536-7030 / 7020
The Ruth Group
SOURCE NuVasive, Inc.
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