Nanovis announced today that it sold certain nano surface technology assets and certain IP rights to Medtronic
(NYSE: MDT)
.
Columbia City, Indiana–based Nanovis said Medtronic acquired the nano surface technology assets and certain rights to IP assets related to Sites Medical’s OsteoSync titanium pads. The medtech giant made the acquisition for use in the development of its next-generation PEEK interbody fusion devices.
“We are excited about our collaboration with Medtronic,” said Brian More, CEO of Nanovis. “Combining our market-leading nano surface technology with Medtronic’s market-leading PEEK implant designs will give a growing number of surgeons access to best-in-class devices to treat patients.”
Financial terms of the deal were not disclosed.
Nanovis said its bone-growth nanotechnology can improve the speed and consistency of the human bone growth response. It enhances implant fixation through osseointegration. In this process, the bone grows and fuses with the surface of a spinal implant.
Medtronic develops interbody systems based on polyetheretherketone (PEEK). For instance, the company’s Infuse bone graft has FDA approval for specific spine, oral-maxillofacial and orthopedic trauma procedures. In spine surgery, it works with select Medtronic interbody fusion devices.
“This collaboration is a testament to the significance of the nano surface technology we developed and the value it delivers to our customers and to patients,” said More. “Medtronic’s commitment to innovation and commercial scale makes them an ideal partner to take these technologies to market.”
