STOCKHOLM, SWEDEN - August 16, 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that the portfolio company OssDsign AB has launched OssDsign Catalyst in the U.S. The product is a synthetic bone graft that stimulates the formation of healthy bone tissue in spinal fusion surgeries. The launch constitutes an important step in the company's strategy to establish itself on the bone graft market in the largest geographic market for medical device innovations.
Nearly 80 percent of all Americans experience low back pain at some point in their lives and more than 1.5 million will undergo spinal fusion surgery. Approximately 20 percent of these surgeries are unsuccessful due to the lack of proper fusion between the implant and the spine. The addressable market for synthetic bone grafts in spinal surgeries is thus substantial and is valued at USD 2.6 billion with an expected CAGR of 7% during 2021-2025.
The innovative graft is composed of a proprietary nanocrystalline structure that can be implanted into the spine and is then resorbed and replaced by new bone tissue. Data from a recently published pre-clinical study show that OssDsign Catalyst induced rapid and reliable bone formation and that successful fusion was achieved in 100% of the studied subjects at 26 weeks, compared to 60% in the group where a comparable market-cleared device was used.
"We are very positive to OssDsign's success and capacity to achieve their goal to commercialize OssDsign Catalyst on the U.S. market before the end of the year. We look forward to follow the company's continued endeavor in improving the clinical results for patients who undergo complex surgeries," comments Viktor Drvota, CEO, Karolinska Development AB.
Karolinska Development's shareholding in OssDsign AB, including an indirect ownership via KCIF Co-Investment Fund, amounts to 10.4 per cent.
For further information, please contact:
Viktor Drvota, CEO, Karolinska Development AB
Phone: +46 73 982 52 02, e-mail: viktor.drvota@karolinskadevelopment.com
Johan Dighed, General Counsel and Deputy CEO, Karolinska Development AB
Phone: +46 70 207 48 26, e-mail: johan.dighed@karolinskadevelopment.com
TO THE EDITORS
About Karolinska Development AB
Karolinska Development AB (Nasdaq Stockholm: KDEV) is a Nordic life sciences investment company. The company focuses on identifying breakthrough medical innovations in the Nordic region that are developed by entrepreneurs and leadership teams. The Company invests in the creation and growth of companies that advance these assets into commercial products that are designed to make a difference to patients' lives while providing an attractive return on investment to shareholders.
Karolinska Development has access to world-class medical innovations at the Karolinska Institutet and other leading universities and research institutes in the Nordic region. The Company aims to build companies around scientists who are leaders in their fields, supported by experienced management teams and advisers, and co-funded by specialist international investors, to provide the greatest chance of success.
Karolinska Development has a portfolio of ten companies targeting opportunities in innovative treatment for life-threatening or serious debilitating diseases.
The Company is led by an entrepreneurial team of investment professionals with a proven track record as company builders and with access to a strong global network.
For more information, please visit www.karolinskadevelopment.com.
Attachment
- PM KD OssDsign Catalyst ENG 16-08-2021 (https://ml-eu.globenewswire.com/Resource/Download/901758f9-dc23-496a-bcf7-3e545b859051)
