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news.Exactech has said that its Taiwanese subsidiary, Exactech Taiwan, has entered into an exclusive license agreement with the Industrial Technology Research Institute or ITRI and the National Taiwan University Hospital or NTUH for the rights to technology and patents related to the repair of cartilage lesions
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The agreement terms include a license fee based on the achievement of specific regulatory milestones and a sales-based royalty arrangement once regulatory clearances are established. Planned expenditures for these fees were included in previously-released financial estimates by the company.
Using this technology platform, Exactech plans to launch a cartilage repair program that will include a device and method for the treatment and repair of cartilage in the knee joint. It is expected that the project will require Exactech to complete human clinical trials under the guidance of the FDA in order to obtain pre-market approval for the device in the US.