Formulated with a cell-friendly surface architecture and a resorption profile, the hip kit is designed to conduct a minimally invasive procedure to implant AGN1, a calcium-based, osteoconductive, and tri-phasic implant material
The AGN1 LOEP Hip Kit is used to perform a minimally invasive procedure for the treatment of osteoporotic bone loss in the hip. (Credit: IAOM-US from Pixabay)
AgNovos Healthcare has signed an exclusive option agreement with Asahi Kasei Pharma to commercialise its AgNovos’ AGN1 LOEP Hip Kit in Japan.
The AGN1 LOEP Hip Kit is designed to carry out a minimally invasive procedure for the treatment of osteoporotic bone loss in the hip.
As per terms of the deal, AgNovos will secure up to $19.5m of non-dilutive funding. It is also eligible to secure up to $103m in additional payments based on the successful development and commercialisation of the AGN1 LOEP Hip Kit.
In addition, AgNovos will secure double-digit royalties on product sales in Japan, which is expected to be worth over $400m during the term for the company.
Asahi Kasei Pharma president Yoshikazu said: “We envision the option agreement with AgNovos to be an important step into the medical device business and believe that the AGN1 LOEP Hip Kit may contribute to a better life and living for people who suffer from osteoporosis. We look forward to collaborating with AgNovos for the Japanese market.”
Osteoporosis, which is indicated by bone loss and reduced bone strength, increases the risk of fragility fractures that may result from low-energy trauma such as a fall from standing height.
The AGN1 LOEP Hip Kit consists of instruments and materials to conduct a minimally invasive procedure to implant AGN1, a calcium-based, osteoconductive, and tri-phasic implant material.
AGN1 features a cell-friendly surface architecture and resorption profile, which facilitates the rapid formation of new bone.
According to the company, preclinical and clinical research has demonstrated that AGN1 LOEP treatment offers immediate, substantial and durable increase in the strength of osteoporotic femurs
AgNovos is currently offering the kit in select markets under the brand name OSSURE LOEP kit.
AgNovos CEO Tanner Howe said: “We are excited to enter into this agreement with Asahi Kasei Pharma, a proven leader and innovator in the commercialization of osteoporosis treatments in Japan.
“This partnership validates the promise that our technology can help to address the persistent unmet needs in osteoporosis care in Japan. Asahi Kasei Pharma’s team is experienced, and their network is expansive, making them an ideal partner for us in Japan.”