Implanet received its first orders from Kico Knee Innovation for Implanet's Madison knee implants and from SeaSpine for its JAZZ® Spine portfolio. The orders total €0.4MM, combined. (USD $0.5MM)
Implanet's agreement with Kico serves markets in Australia and the U.S. Once a threshold of 1,000 implants in a 12-month period is reached, Kico will gain exclusive rights to Madison implants in these countries, with a manufacturing license option.
The SeaSpine private label distribution agreement covers commercialization of Implanet's Jazz® range in the U.S. The initial six-year term includes contractual annual minimum payments and gives SeaSpine exclusive access to co-developed products utilizing Jazz technology.
Private label production of these products will commence shortly, with deliveries scheduled for 2019.
Sources: Implanet; ORTHOWORLD Inc.