Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Alphatec Holdings has announced that the company's wholly owned subsidiary, Alphatec Spine, and Stout Medical Group have entered into a license agreement that provides Alphatec Spine with a worldwide license to develop and commercialize Stout's expandable interbody or vertebral body replacement technology.
Subscribe to our email newsletter
The financial terms of the license agreement include an up-front license fee payment to be made by Alphatec Spine to Stout, regulatory and sales milestone payments that could begin to be achieved and paid by Alphatec Spine to Stout in 2008, and a royalty payment based on net sales of licensed products, with minimum annual royalties beginning in 2009.
The license agreement expires in 2028. Alphatec Spine has the right to sublicense the technology to third parties as well as terminate the license agreement for any reason upon 90 days prior written notice to Stout. Each party has the right to terminate the license agreement for a material uncured breach by the other party.
The expandable interbody or vertebral body replacement technology utilizes a unique geometric design configuration that can be expanded once the device is placed into the disc space and is designed to be used in percutaneous, mini-open and open delivery procedures.
Dirk Kuyper, president and CEO of Alphatec Spine, said: “This technology is intended to provide superior efficacy in dealing with patients who suffer from degenerative disc disease by incorporating minimally invasive access techniques while still being adaptable for all biomaterials.”