Japan-based Olympus has made a strategic investment of $12m in Small Bone Innovations' (SBi) Series E Preferred Stock. The parties agreed that the investment grants no special privileges and will not influence SBi’s operating independence.
In related but separate transactions, SBi Asia Pacific Sdn. Bhd. (SBi APAC) has signed distribution agreements with Olympus Terumo Biomaterials (66.6% owned by Olympus and 33.4% owned by Terumo Corp) whereby they will exclusively distribute SBi products in Japan and China.
Separately, SBi APAC, a joint venture with Khazanah Nasional Berhad and Malaysian Technology Development Sdn. Bhd., signed agreements with Olympus Terumo Biomaterials for the exclusive distribution of SBi products in Japan and China.
Olympus Terumo Biomaterials conducts research and development, manufactures, and sells in the biomaterials and regenerative medicine fields. The company is a manufacturer of bone void fillers and tissue engineered products for deep wound healing.
Tsuyoshi Kikukawa, president of Olympus, said: “Olympus recognizes the need to satisfy a universal desire amongst our aging populations to maintain an active lifestyle. Our investment in SBi will help small bone and joint treatments continue to be the fastest growing sector in the orthopedics market. It will also complement our biomaterials programs for maintaining musculoskeletal health.”
Anthony Viscogliosi, chairman and CEO of SBi, said: “This important investment will accelerate the worldwide rollout of SBi’s S.T.A.R. total ankle replacement system by providing capital for inventory and expanding surgeon education and training. It will also support new and expanded product offerings for both the upper and lower limb anatomies and related clinical studies. This investment further enhances the implementation of our global business strategy.”
Regarding the distribution rights, Mr Viscogliosi said: “These exclusive distribution agreements with Olympus Terumo Biomaterials will lead to an accelerated emergence of the small bone & joint market in Japan and China.
“Our relationship with Olympus Terumo Biomaterials and Olympus Corp., its majority owner, will form the foundation of a long-lasting, mutually beneficial partnership in Japan and China. According to Pacific Bridge Medical, the Japanese medical device market is the largest market in the Asia Pacific region and totals more than $25bn.”
Small Bone Innovations is an orthopedic company focused on technologies and treatments for the small bones and joints.