Anika Commences U.S. Commercial Launch of TACTOSET Bone Repair Therapy Under Its New U.S. Hybrid Commercial Model
September 18 2019 - 7:30AM
Business Wire
Anika Therapeutics, Inc. (NASDAQ: ANIK), a global, integrated
orthopedic medicines company leveraging its proprietary hyaluronic
acid ("HA") technology platform to provide therapies across the
Joint Preservation and Restoration continuum of care, today
announced it has commenced the U.S. commercial soft launch of
TACTOSET, its injectable HA-enhanced bone repair therapy. TACTOSET
has been developed for the treatment of bone voids and other bone
defects of the skeletal system caused by trauma or age-related
degeneration. TACTOSET is Anika’s first product to launch under its
U.S.-based hybrid commercial model.
“We are proud to commence the launch of our first
surgically-delivered regenerative therapy in the U.S. under our
hybrid commercial model with the addition of TACTOSET to our
product portfolio,” said Joseph Darling, President and Chief
Executive Officer of Anika Therapeutics. “We believe our hybrid
commercial model provides us with a direct line of sight into the
market, enabling Anika to achieve rapid market penetration with
TACTOSET, while avoiding the significant investment associated with
building a large direct sales force internally. Additionally, we
expect our hybrid model to provide the ability to launch in various
phases and to scale where appropriate as we introduce products
across multiple categories in the Orthopedic segment. This
capability gives our commercial team more precise commercial
control, including greater visibility on product demand, end-user
activity and fulfillment.”
Approximately 900,000 people could benefit from treatment for
bone voids and other bone defects of the skeletal system, which can
cause pain and impaired function. This therapy combines calcium
phosphate, an established precursor to the mineral component of
bone, with Anika’s proprietary hyaluronic acid, which enhances flow
and tactile feel during administration, to improve ease of use and
procedural efficiency.
“I am very pleased with my TACTOSET surgical experience, due in
large part to its unique ease-of-use,” said Dr. John Tierney,
President of the Greater Boston Orthopaedic Center, and the first
surgeon to utilize the product in a human case. “I believe that
other patients and surgeons in the field will realize the benefits
of the product, and I look forward to discussing my clinical
experience during Anika’s Analyst and Investor Day later this
morning.”
Anika will discuss the benefits of this novel therapy and the
value of its hybrid commercial strategy at the Company’s Analyst
and Investor Day being held today, September 18, 2019.
About TACTOSET
TACTOSET, Anika’s injectable bone repair therapy, is its first
surgically-delivered regenerative therapy in the U.S. for bone
repair procedures. The therapy is an injectable, HA-enhanced,
osteoconductive calcium phosphate bone substitute material, and it
is indicated for filling bone voids or defects of the skeletal
system (i.e., extremities and pelvis) that are not intrinsic to the
stability of bony structure. It is provided in a kit with two
components (an aqueous solution in a pre-loaded syringe and a dry
powder) that must be mixed intra-operatively using the supplied
mixing system to form a cohesive paste prior to administration.
About Anika Therapeutics, Inc.
Anika Therapeutics, Inc. (NASDAQ: ANIK) is a global,
integrated orthopedic medicines company based in Bedford,
Massachusetts. Anika is committed to improving the lives of
patients with degenerative orthopedic diseases and traumatic
conditions with clinically meaningful therapies along a broad
continuum of care, from palliative pain management to joint
preservation and restoration. The Company has over two decades of
global expertise developing, manufacturing, and commercializing
more than 20 products based on its proprietary hyaluronic acid
(HA) technology platform. Anika's orthopedic portfolio includes
ORTHOVISC®, MONOVISC®, and CINGAL®, which
alleviate pain and restore joint function by replenishing depleted
HA, and HYALOFAST, a solid HA-based scaffold to aid
cartilage repair and regeneration. For more information about
Anika, please visit www.anikatherapeutics.com.
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For Investor Inquiries: Anika Therapeutics, Inc. Sylvia Cheung,
781-457-9000 Chief Financial Officer
For Media Inquiries: W2O Group Sonal Vasudev, 917-523-1418
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