Early stage medical device firm LaunchPad Medical has signed an agreement with Stryker to secure license for its bone adhesive technology.
Financial terms of the deal have not been disclosed.
As part of the deal, LaunchPad has obtained an exclusive worldwide license from Stryker for bone adhesive technology that is based on a unique synthetic biomaterial.
According to LaunchPad, the properties of this biomaterial, known as Tetranite, include the ability to provide immediate fixation of bone to bone and bone to metal.
LaunchPad Medical CEO Brian Hess said: "I am truly excited about the opportunity we have to commercialize what will undoubtedly be a game-changing product in the field of bone health."
Comprising data from multiple pre-clinical animal studies, the technology is covered by four issued and three pending US patents.
LaunchPad intends to commercialise bone adhesive technology for use in repairing damaged teeth and bones.
Initially, the company will target the dental market where Tetranite can address complications associated with the placement of dental implants.