Terms of the termination include a repayment of the initial $2.6 million license fee originally paid to Scient’x and a full repayment of inventory that Alphatec will return to Scient’x.
Dirk Kuyper, president and CEO of Alphatec, said: “After a thorough portfolio review, Dynamo did not entirely fit within the new strategic direction of Alphatec and we plan on utilizing the $2.6 million repayment to support the commercialization of our innovative product development pipeline, such as OsseoScrew, V-Stent, GLIF, and other technologies targeted at the aging spine.”