Etex, which was founded in 1989 by Harvard Dental School researcher Dosuk Lee, makes the FDA-cleared EquivaBone bone void filler for spine and trauma applications. The company is also developing highly porous bone substitute materials for bioactive molecule delivery, according to a press release.
"Since 1989, Etex has been focused on Dosuk Lee’s vision of providing clinical solutions that advance the orthopaedic standard of care. His breakthrough technology in biomimetic calcium phosphate, which mimics the chemical and structural features of human bone, promotes natural bone regeneration that positively impacts patients’ lives," Etex CEO Stephen La Neve said in prepared remarks. "Zimmer’s long history, dedication and focus in the orthopaedic market is a perfect complement to our technology and dramatically expands our ability to reach a broader array of clinicians."
"Zimmer is committed to developing the most comprehensive range of biologic therapies for patients suffering from musculoskeletal joint disease," added Zimmer Americas president Joseph Cucolo.
Etex has not disclosed outside funding since 2005, when it booked nearly $5 million. That year, an arbitrator ordered Medtronic (NYSE:MDT) to pay Etex $50.2 million, ruling the Minnesota-based giant improperly canceled the deal following an assessment of a bone graft product Etex had been developing, according to the New York Times.