Ortho Regenerative Technologies enters into global license with Hanuman Pelican, Inc.
by CM Staff
Agreement grants Ortho RTI an exclusive global license to use, manufacture, sublicense and sell the Buoy Suspension Fractional System.
MONTREAL — Ortho Regenerative Technologies Inc., a clinical stage orthobiologics company focused on the development of soft tissue repair regenerative technologies, announced on Jan. 5 that it has entered into a global licensing agreement with Hanuman Pelican Inc. for the use of the Buoy Suspension Fractional System in combination with Ortho-R.
The Agreement grants Ortho RTI an exclusive global license (excluding Japan) to use, manufacture, sublicense and sell the Buoy Suspension Fractional System in combination with Ortho-R in the following fields: 1) Tendons, 2) Ligaments, 3) Meniscus, 4) Cartilage, and 5) Wound Healing (non-exclusive). Hanuman will also supply its Buoy Suspension Fractional System as the exclusive Platelet Concentration System to be used in Ortho RTI’s clinical trial at each clinical site participating in the upcoming US ORTHO-R phase I / II clinical trial for rotator cuff tears repair. Ortho-RTI will pay royalties on net sales of the Buoy Suspension Fractional System portion of the combined Ortho-R package.
“We are very pleased to have entered into a licensing agreement with Hanuman”, said Claude LeDuc, CEO of Ortho RTI. “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.”
Commenting on the license agreement, Scott King, President of Hanuman Medical, said: “We are pleased that ORTHO RTI has chosen Hanuman’s System for autologous patient PRP that they will sell as part of Ortho-R, their proprietary Chitosan-PRP hybrid biologic implant product.”