BONESUPPORT to significantly expand its European sales organization
Lund, Sweden, 08:00 CET, 29 May 2018 – BONESUPPORT™ an emerging leader in Orthobiologics for the management of bone voids, announces plans to expand its sales organization in Europe by employing a further 13 sales representatives in its key markets in 2018. The objective is to significantly increase the market penetration of its antibiotic-eluting products CERAMENT® G and CERAMENT® V.
“CERAMENT G and V have strong sales momentum in Europe due to their increased use in a wide range of orthopedic indications. The adoption level is particularly high in osteomyelitis, a challenging indication that generally requires repeated surgical interventions. We see significant commercial potential for CERAMENT G and V in multiple important treatment areas, including the much larger trauma indication. Today’s decision to almost double the number of sales specialists in Europe, reflects the sizeable opportunity we see for our CERAMENT products across the region in indications where we have so far had a relatively low level of penetration,” says Emil Billbäck, CEO of BONESUPPORT.
BONESUPPORT has more than 130 publications demonstrating the advantages of the CERAMENT platform in relation to the treatment of bone voids. In March 2018, three studies were presented at the British Limb Reconstruction Society (BLRS) meeting. The larger of these studies1, compared the treatment of CERAMENT G with Wright Medical’s OSTEOSET® T. The study showed clear benefits in terms of significantly better bone healing and reduced risk of recurring infections with the use of CERAMENT G, which in turn reduces patient in hospital stay.
1. Ferguson et al. (2018): The choice of local antibiotic carrier significantly affects outcome in treatment of chronic bone infection
BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bio-ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void.
BONESUPPORT’s bio-ceramic bone graft substitutes CERAMENT® BONE VOID FILLER (BVF), CERAMENT® G* and CERAMENT® V* are all based on the Company’s novel and proprietary technology platform.
The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot.
BONESUPPORT’s total sales increased from SEK 62 million in 2015 to SEK 129 million in 2017, representing a compound annual growth rate of 45%.
The Company’s research and development is focused on the continuing development and refinement of its CERAMENT technology to extend its use into additional indications by the elution of drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
In addition, BONESUPPORT is looking at opportunities to expand its product offering in the US and has recently entered into a strategic agreement with Collagen Matrix Inc. to market and distribute products that are complementary to CERAMENT BVF.
BONESUPPORT is listed on Nasdaq Stockholm and trades under the ticker “BONEX” (ISIN code: SE0009858152). Further information is available at www.bonesupport.com
*CERAMENT G: Not available in the United States, for investigational use only.
CERAMENT V: Not available in the United States.
BONESUPPORT™ and CERAMENT® are registered trademarks.
For more information contact:
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Björn Westberg, CFO
+46 (0) 46 286 53 60
Citigate Dewe Rogerson
Pip Batty, David Dible, Shabnam Bashir, Isabelle Andrews
+44 (0)20 7282 1022
This information is such information as BONESUPPORT HOLDING AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00am CET on 29 May 2018.