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news.Orthomimetics, a UK-based regenerative medicine company, has received CE Mark approval for Chondromimetic, its product for the repair of articular cartilage and bone.
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This approval enables the company to market its line of bioresorbable implants for bone and/or soft tissue repair in the EU. Orthomimetics’s family of products was developed during a collaboration between the University of Cambridge and the Massachusetts Institute of Technology.
CE-mark approval enables the company to market Chondromimetic in Europe, and comes earlier than originally forecast at the time of the company’s December 2006 series A financing. Orthomimetics said that it will immediately launch a comprehensive post-market clinical-trial program for Chondromimetic, and is currently negotiating distribution agreements for key European territories. The company will pursue additional approvals in other global territories throughout 2009.
Andrew Lynn, CEO of Orthomimetics, said: “Orthomimetics is extremely pleased to be able to make Chondromimetic available for surgeons and patients in Europe. This approval is the result of a tremendous amount of hard work on the part of our surgeon advisors, scientific collaborators, and – most of all – our professional, dedicated team. We look forward to making Chondromimetic a clinical and commercial success.”