Under the terms of the agreement, Orthofix will pay Intelligent Implant Systems (IIS) up to $7 million for the assignment of the intellectual property and other performance milestones, including $2.5 million up front.
Alan Milinazzo, CEO of Orthofix, said: “This transaction with IIS demonstrates Orthofix’s ongoing commitment to building a unique portfolio of spine products and making new technologies available to spine surgeons.”