SAN DIEGO–(BUSINESS WIRE)–KFx Medical Corporation announced that it has entered into a license agreement with Smith & Nephew, Inc. relating to its patents used in knotless double row rotator cuff repair.
Under the agreement, Smith & Nephew will have the right to promote the use of products and techniques for knotless double row rotator cuff repair as claimed in US Patent number 7,585,311 and related patents and applications for the life of those patents. Approximately one-third of more than 400,000 rotator cuff repairs in the United States utilize the technique to achieve an anatomic reattachment of tendon.
Terms of the licensing agreement were not disclosed.
“We are pleased to have reached an agreement with, and are proud to have our innovation recognized by Smith & Nephew. They are a global leader in the world’s Orthopedic industry and share KFx’s dedication to helping improve people’s lives. I am pleased with the license arrangement and the prospect of seeing KFx’s valuable double row knotless rotator cuff technology reach even more patients,” indicated Tate Scott, president and CEO.
The new AppianFx line of implants from KFx reattach tissue to bone in shoulder, knee, foot and ankle procedures which combined exceed well over 1 million annual surgical procedures in the United States. Product offerings include those that directly place and secure tissue into bone both with and without the use of sutures.
About KFx Medical Corporation
Headquartered in Carlsbad, Calif., KFx Medical Corporation was founded in 2003 to develop products for tissue fixation in a variety of orthopedic surgical procedures performed on the shoulder, knee, foot, and ankle. KFx provides simple systems for orthopedic surgeons focused on sports medicine. The company is privately held — Investors include Alloy Ventures , Charter Life Sciences , Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners.