Ortho Regenerative Technologies entered into a global licensing agreement with Hanuman Pelican for use of the Buoy Suspension Fractional System with Ortho-R, Ortho RTI's Chitosan-PRP hybrid drug/biologic implant combination product.
The agreement allows exclusive global license (excluding Japan) to use, manufacture, sublicense and sell the Buoy Suspension Fractional System in combination with Ortho-R in the treatment of tendons, ligaments, meniscus, cartilage and wound healing (non-exclusive).
Hanuman will also supply the Buoy Suspension Fractional System as the exclusive Platelet Concentration System to be used in an upcoming U.S. Ortho-R Phase I/II clinical trial for rotator cuff tear repair.
Claude LeDuc, CEO of Ortho RTI, said, "The combination of one of the best PRP systems on the market with our Drug/Biologics implant will enhance our capabilities to deliver a successful Ortho-R U.S. Phase I/II rotator cuff tear repair clinical trial and demonstrate the significant advantages of our approach to soft tissue repair regenerative medicine. ...The Buoy Suspension Fractional System in combination with Ortho-R provides us with a complete state-of-the-art turnkey solution that will greatly enhance revenue opportunities for us and facilitate new market penetration initiatives."