The McKinney, Texas-based Orthofix, which has operations in Boston, said it has signed a development and marketing agreement with Stout, a medical device product development firm based in Perkasie, PA. The two companies will work to design and market an expandable vertebral implant device that can be used in corpectomy procedures, a surgery that involves removing one or more parts of the vetebral body, usually to decompress the spinal cord after trauma or the removal of a tumor.
The 15-year deal, which goes into effect during the second half of this year, is said to be exclusive. Orthofix will be responsible for the commercialization and marketing of the device, which will be developed by Stout.
Orthofix recently announced that it had received the CE Mark approval to market its Advent cervical disc in Europe.