Xtant Medical (NYSE:XTNT) said today it inked a licensing agreement with Sites Medical for its OsteoSync Ti porous titanium scaffold technology.
Sites Medical’s OsteoSync Ti technology is designed with a high friction coefficient for high implant stability and open pore geometry and micro-texturing for bone ingrowth, the company said.
“We are very excited to work with Sites Medical. As market dynamics shift towards emerging titanium technologies, Sites Medical’s OsteoSync Ti technology places us firmly at the forefront of this trend. This technology exhibits great synergy with our entire line of spinal implants further enhancing the value of this relationship as well as Xtant’s potential impact in its core market,” Xtant Medical CEO Carl O’Connell said in a press release.
Data from preclinical testing indicated the OsteoSync Ti coating had bone attachment strength twice as strong as is found with titanium plasma sprays and 7 times as strong as PEEK material at 5-weeks post-procedure, the company said.
“We are thrilled to be partnering with Xtant Medical, a company with a rich history of innovation in the spine field. We look forward to working with the Xtant team to combine our respective technologies to deliver a new generation of high performance, high value products to the market,” Sites Medical prez & CEO Greg Stalcup said in a prepared statement.
Earlier this month, Xtant said it amended its senior credit line with OrbiMed Advisors, saying it plans to use the $15 million facility to pay off the $9 million it owes to Silicon Valley Bank.
The balance is earmarked for general working capital, the Belgrade, Mont.-based spinal implant maker said. Orbimed also deferred interest payments that were due in January and March to June 30, Xtant said.
