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Arthrex to receive exclusive rights to distribute and commercialize Celularity’s placental-derived biomaterial products for orthopedics and sport medicine in the United States.
Celularity Inc., a clinical-stage biotechnology company developing cell therapies and biomaterial products derived from the postpartum human placenta to treat cancer, infectious, and degenerative diseases, and Arthrex, Inc., a global leader in minimally invasive orthopedic technology, announced on July 1, 2021, that the companies have entered into an exclusive partnership to distribute and commercialize Celularity’s biomaterial products for orthopedic surgery and sports medicine.
Under the terms of the agreement, Celularity will provide Arthrex with exclusive commercial distribution rights for orthopedic surgery and sports medicine and will continue to be responsible for product manufacturing and supply.
“We are tremendously excited to have Arthrex, a global leader in minimally invasive orthopedics, as a commercial partner to distribute our placental-derived biomaterial products,” said Robert J. Hariri, founder, chairperson and chief executive officer of Celularity in a press release. “Each of our regenerative products leverages the unique properties of the placenta to augment the body’s innate ability to heal across a variety of clinical conditions. We look forward to working closely with Arthrex to increase the availability of these innovative products in orthopedic surgery and sports medicine, and to improve the lives of patients.”
"Arthrex is proud to support Celularity's innovative technology that leverages the unique biology of the placenta. Partnering with Celularity positions us to explore new opportunities in the Orthobiologics space while continuing our mission of helping surgeons better treat their patients," David Shepard, Arthrex senior director of orthobiologics commented in the press statement.
Stephen A. Brigido, president of Celularity’s Degenerative Diseases Division, noted in the statement “Arthrex is highly innovative, progressive, and committed to new product development. Our shared commitment to medical and surgical education creates important cultural synergies between the two companies. The Arthrex partnership will broaden the platform for using Celularity’s regenerative products in the setting of orthopedic surgery, the market for which by one estimate is $1.5 billion in the U.S. alone.”
Source: Celularity Inc.