Curiteva, Inc. Acquires FossiLabs, LLC: Redefines Active Implant
Curiteva acquires FossiLabs, innovator of a process for 3D printing PEEK medical implants.
HUNTSVILLE, Ala., Dec. 17, 2020 /PRNewswire-PRWeb/ -- Huntsville, Alabama-based spine manufacturer Curiteva announced a market-shifting transaction with the acquisition of FossiLabs, a company focused on the development of Fused Filament Fabrication 3D printed PEEK medical implants. The innovative start-up developed a proprietary process to fabricate scaffolding structures with controlled areas of macroporosity and advanced hydrophilicity to increase surface area and promote osseointegration. Terms of the deal were not disclosed.
FossiLabs founder and inventor Todd Reith joined the company as Director of Emerging Technology and will lead the development and commercialization of this patent-pending transformative technology. "I am very excited to partner with the talented individuals at Curiteva. Their multi-disciplined experienced team, diverse resources, and unparalleled focus on advancing patient care is a perfect complement for accelerating the commercialization of this novel technology," commented Reith.
The interbody fusion market is estimated to be $2.6B and PEEK still represents 62% of implanted devices. Curiteva contends this will be the first 3D printed PEEK interbody device offering an interconnected porous structure and a bioactive surface for optimal healing and radiographic evaluation. "Surgeons want an implant that participates in healing and promotes fusion in the interbody space. Titanium still creates imaging challenges and is not an ideal modulus for bone. This represents a remarkable step forward in our options for achieving fusion in the interbody space," stated Austin based spine surgeon Randy Dryer, MD.
Curiteva recently announced a successful private funding round of $20M and indicated one key focus for the capital was to secure innovative technology. "The acquisition of FossiLabs reflects Curiteva's continued commitment to developing and investing in disruptive technologies," said Eric Linder, Chief Technology Officer. "Our plan is to work diligently to execute on a robust domestic and international IP strategy, engage key opinion leaders in optimizing implant design, and submit for FDA 510(k) clearance in 2021," added Linder.
ABOUT CURITEVA
Curiteva is a privately held technology and manufacturing company dedicated to advancing spine surgery and improving clinical outcomes by partnering with providers and suppliers to deliver innovative and intuitive implant systems to the market. Our business is founded on a commitment to building world-class manufacturing, accelerating research and development, maintaining lean operational discipline, and delivering novel technology to meet the evolving needs of our customers and the patients they serve. For more information, please visit http://www.curiteva.com.
ABOUT FOSSILABS, LLC
FossiLabs is a privately held company specializing in the process of engineering porous bone-like scaffolding structures with polyether ether ketone (PEEK), utilizing the additive manufacturing FFF process to enhance medi
Media Contact
Kristen Kyzer, Curiteva, Inc., 256.213.1057, [email protected]
SOURCE Curiteva, Inc.
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