Biomet Announces Acquisition of the Assets of Cartilage Repair Company Cartilix

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WARSAW, Ind.–(BUSINESS WIRE)–Biomet, Inc., a global leader in the manufacture of orthopedic and dental medical devices, announced today its acquisition of the assets of Cartilix, a Foster City, CA based company that has developed proprietary cartilage repair technology.

Cartilix was founded in 2004 to develop cartilage repair and regeneration solutions. The company developed ChonDux™, a proprietary cartilage regeneration technology for repair of knee cartilage. ChonDux™ technology uses a biological adhesive and hydrogel to fill articular cartilage lesions.

ChonDux™ technology is not yet commercially available. Clinical trials are scheduled to begin in Europe during the first half of 2010 with a U.S. clinical trial anticipated to follow thereafter.

Jeff Binder, Biomet President and CEO, stated: “We believe that Cartilix’s technology platform is a great fit for Biomet’s continuum of solutions for knee disorders. Biomet has a rapidly-growing sports medicine franchise, the world’s leading partial knee replacement system, and the most comprehensive total knee replacement system on the market, allowing us to provide a broad spectrum of solutions for varying degrees of knee disorders. The Cartilix technology provides Biomet with an opportunity to facilitate earlier intervention in pre-arthritic patients.”

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