AxioMed Spine Corporation Completes Manufacturing Agreement with The Polymer Technology Group, Inc.CLEVELAND -- AxioMed Spine Corporation (ASC ASC Ambulatory surgery center, see there ) announced that it has completed an agreement to add a second manufacturing site for its spinal disc replacement products at the company's new facility in Garfield Heights Garfield Heights, city (1990 pop. 31,739), Cuyahoga co., NE Ohio, a residential and industrial suburb adjacent to Cleveland; founded 1904, inc. 1932. It has oil refineries and a steel industry. , Ohio. The Polymer Technology Group, Inc. (PTG PTG Polymer Technology Group PTG Play The Game (online gaming) PTG Pietersburg, South Africa (Airport Code) PTG Pearson Technology Group (Canada) ) of Berkeley, California Berkeley is a city on the east shore of San Francisco Bay in Northern California, in the United States. Its neighbors to the south are the cities of Oakland and Emeryville. To the north is the city of Albany and the unincorporated community of Kensington. will provide business continuity by maintaining manufacturing capability at its Berkeley, CA facility. ASC has established proprietary manufacturing processes for the unique artificial discs as well as an exclusive license for PTG's patented polymer for applications in the lumbar and cervical spine cervical spine Clinical anatomy The region of the vertebral column encompassing C1 through C7 . ASC's first product the Freedom([R]) Lumbar Total Disc Replacement is currently in pilot clinical studies in Europe. The scale up of manufacturing at ASC's facility will begin immediately and funds advanced by the Ohio Department of Development under its Innovation Ohio Loan Fund Program will be used for equipment purchases. ASC expects to manufacture the devices in its new facility by the end of this year. ASC's mission is to develop products that restore the natural function to patients with degenerative spine disease, thus advancing the standard of care beyond fusion and first generation artificial discs. The Freedom([R]) disc was developed and designed by a team of clinicians and experts in the fields of biomechanics, pathology, spine surgery and polymer science Polymer science or macromolecular science is the subfield of materials science concerned with polymers, primarily synthetic polymers such as plastics. The field of polymer science includes researchers in multiple disciplines including chemistry, physics, and engineering. . ASC believes that the material characteristics of PTG's polymer, in combination with ASC's implant design, may provide a type of three-dimensional motion that closely matches the natural biomechanics of the spine. Patrick McBrayer, ASC's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "We are fortunate to have the opportunity to broaden our relationship with PTG and build new manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in Ohio. We are currently working with over 60 vendors in Ohio and assume that manufacturing operations at ASC will solidify and strengthen these relationships. The State of Ohio Loan program has been essential in developing this new manufacturing endeavor. We also hope to participate in the Third Frontier grant offering and expand our operations into the significant cervical spine market to augment our lumbar spinal product offering. This would benefit all companies we work with in Ohio through new potential business activities and job opportunities." Bob Ward, PTG's CEO, commented, "PTG is fortunate to have ASC as a partner in the spine field. Thorough performance testing has shown that our polymer meets ASC's specifications for strength and viscoelastic Adj. 1. viscoelastic - having viscous as well as elastic properties natural philosophy, physics - the science of matter and energy and their interactions; "his favorite subject was physics" properties as required by the dynamics of the spine and the unique ASC artificial disc design. This agreement expands our manufacturing and development capabilities as we address the rapidly growing world-wide spine market." Contact Information: Axiomed Patrick McBrayer, President and CEO 5350 Transportation Boulevard Garfield Heights, OH 44125 216-587-5566 pmcbrayer@axiomed.com www.axiomed.com The Polymer Technology Group Kristi Prado, Vice President Sales & Marketing 2810 7th Street Berkeley, CA 94710 510-841-8800 kprado@polymertech.com www.polymertech.com |
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