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Orthomimetics’ Chondromimetic Receives CE Mark Approval

Orthomimetics Limited has received CE Mark approval for Chondromimetic, the flagship product for the repair of articular cartilage and bone. The CE Mark approval enables the company to market its line of bioresorbable implants for bone and/or soft tissue repair in the EU. Chondromimetic is a novel off-the-shelf implant which helps to support the repair of defects involving both articular cartilage and bone defects that can result from surgical intervention, sports injuries and other trauma. Articular cartilage damage and subsequent degeneration of the underlying bone are a major cause of arthritis in young individuals. This approval enables the company to market Chondromimetic in Europe, and comes earlier than originally forecast at the time of the company’s December 2006 Series A financing. The company will immediately launch a comprehensive post-market clinical-trial program for Chondromimetic, and is currently negotiating distribution agreements for key European territories. The company will pursue additional approvals in other global territories throughout 2009.