Strategic Alliance between ATEC and Theradaptive in Spinal Care
ATEC has a remarkable opportunity on the horizon as it secures exclusive rights to Theradaptive's OsteoAdapt platform. This strategic partnership aims to bring innovative regenerative technology to spinal fusion—a crucial area in orthopedic care.
Theradaptive, a pioneering entity in clinical-stage regenerative medicine, is set to initiate its Series B funding round, designed to enhance its proprietary protein-engineering technology. This partnership not only highlights ATEC's commitment to expanding its offerings in spinal care but also marks a significant evolution in the field of regenerative medicine.
As part of this agreement, ATEC will be the exclusive U.S. distributor of the OsteoAdapt osteoinductive bone graft, which is specifically designed for spinal fusion procedures. This collaboration is a landmark milestone, expected to provide long-term value through a structured payment system that includes both upfront and milestone payments along with a continuous royalty framework.
Understanding the Technology: The OsteoAdapt technology utilizes the innovative AMP2™ protein technology, which is currently undergoing assessment in clinical settings focusing on spine and dental applications, with plans to seek FDA PMA approval. Notably, this technology has already received three FDA Breakthrough Device Designations, reaffirming its potential to address substantial unmet medical requirements in bone regeneration.
Pat Miles, the Chairman and CEO of ATEC, expressed enthusiasm about the partnership, stating, "This represents a pivotal moment for ATEC as we integrate advanced biologic solutions into our procedural ecosystem. The OsteoAdapt technology complements our existing thorough range of spine solutions, which are powered by advanced imaging, informatics, and navigation tools, enhancing surgical outcomes significantly."
Theradaptive's Growth Financing: To advance its clinical research and the rapid rollout of its technology alongside ATEC, Theradaptive has initiated a Series B investment round. This funding will be key in furthering the OASIS Pivotal trial, focusing on spinal fusion, as well as supporting scaling-up manufacturing capabilities necessary for future commercialization phases.
Commenting on the collaboration, Dr. Luis Alvarez, Founder, and CEO of Theradaptive, said, "Finding a partner like ATEC is essential to bringing this groundbreaking technology to market. The intersection of our engineered protein platform with ATEC's broad commercial reach positions us perfectly for entering a transformative new phase in regenerative medicine."
The U.S. spine surgery market presents a massive opportunity, surpassing $10 billion each year, where biotic solutions alone make up a market worth over $2 billion. With its focused approach, OsteoAdapt aims to redefine surgical practices, positioning itself as a viable alternative to traditional allograft and synthetic options, thus eliminating their reliance over time.
Furthermore, ATEC's established sales force projects confidence in amplifying market reach, which is expected to translate into substantial returns for Theradaptive through consistent ongoing royalties.
About Alphatec Holdings, Inc.
Alphatec Holdings, Inc. (Nasdaq: ATEC) is dedicated to advancing spine surgery through cutting-edge products that redefine the standards of care. Through its firms—Alphatec Spine, Inc., EOS imaging S.A.S., and SafeOp Surgical, Inc.—ATEC innovates approaches that harmonize with its growing InformatiX™ platform, enabling more informed, safer surgical procedures. ATEC aspires to establish itself as the leader in spine surgery delivery.
About Theradaptive, Inc.
Theradaptive is a forward-thinking, privately-held company at the clinical stage, focusing on the creation of targeted protein therapeutics for a variety of medical needs, including spine and orthopedic applications. Leveraging its advanced platform, Theradaptive works to deliver biologic agents accurately to targeted treatment areas while addressing critical unmet health needs.
Frequently Asked Questions
What is the focus of the partnership between ATEC and Theradaptive?
The partnership seeks to innovate regenerative technologies for spinal fusion surgery, enhancing treatment outcomes through groundbreaking solutions.
What does the OsteoAdapt technology offer?
OsteoAdapt utilizes advanced protein technology to support bone regeneration, which could potentially provide a superior alternative to traditional grafts and synthetic options.
How does Theradaptive plan to use the Series B funding?
The Series B funding will accelerate clinical studies and scale the manufacturing of their technologies to ensure effective market entry and support commercialization efforts.
What is the significance of the FDA Breakthrough Device Designation?
This designation highlights the potential effectiveness of OsteoAdapt in addressing critical medical needs, facilitating its development and approval process with regulatory bodies.
How does ATEC plan to integrate OsteoAdapt into its existing systems?
ATEC aims to incorporate OsteoAdapt into its Organic Innovation Machine™, aligning it with existing technologies to enhance spine surgery results and patient care.
