Titan Spine Demonstrates Significant Growth with over 27,000 Implanted Fusion Devices Annualized Sales Revenue Run-Rate in Excess of $26 Million
MEQUON, Wis. — Titan Spine, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, today announced that it has achieved 27,000 implantations of its Endoskeleton® interbody fusion devices since its inception – an increase of 25% from 2013 – and has achieved a $26 million annualized sales revenue run-rate. Collectively, these achievements demonstrate significant growth over the past year and continue to reflect the ongoing rapid surgeon adoption of its spinal interbody fusion devices featuring proprietary surface technology.
Kevin Gemas, President of Titan Spine, commented, “The significant growth of Titan Spine observed in 2014 alone has been tremendous, and we are extremely well positioned to continue our momentum in 2015 and beyond. Over the past year, Titan achieved several milestones that attributed to our global growth and further validated our position as the leader in surface technology. These include the expanded use of our devices in Europe, securing market registration approval in Australia and New Zealand, and obtaining FDA clearance for both the Endoskeleton® TL, the first lateral device to feature surface technology, as well as our next generation nanoLOCK® surface technology, the first FDA-cleared interbody fusion devices to feature nanotechnology.”
Steve Cichy, Vice President of Sales of Titan Spine, said, “Not only did 2014 see significant sales growth, but the science of our surface technology is beginning to resonate deeply within the surgeon and scientific communities. Research demonstrating that our devices promote osteoblastic differentiation, while PEEK is actually toxic to osteoblasts and promotes a fibroblastic response, was awarded the prestigious Whitecloud Award for Best Basic Science Research from the Scoliosis Research Society at the International Meeting on Advanced Spine Techniques conference this past July. Recognizing the significance of our surface technology, the industry is ramping up its adoption of our devices and science, and we continue to stand by our commitment of offering quality products for successful spinal surgeries. For this reason, we also began offering a five-year warranty on our full line of spinal implants if a revision surgery is required due to nonunion. We are confident in the science validating our surface technology and look forward to further adoption of our innovative spine devices over this next year and beyond.”
In addition, Titan Spine provided the following updates:
- Currently implanting more than 7,000 implants per year
- Greater than 220 hospital customers, increase of 40% from the year 2013
- Exceeding 90 U.S. Distributors
- Full launch of Endoskeleton® TL lateral device planned for Q1, 2015
- Launch of an additional interbody device planned for Q1, 2015
- Projected commercialization of new nanoLOCK™ surface technology in Q4, 2015
The full line of Endoskeleton® devices will feature Titan Spine’s proprietary nanoLOCK® implant surface technology, consisting of a unique combination of roughened topographies at the macro, micro, and nano levels. This unique combination of surface topographies is designed to create an optimal host-bone response and actively participate in the fusion process by promoting the upregulation of osteogenic and angiogenic factors necessary for bone growth, encouraging natural production of bone morphogenetic proteins (BMPs), and creating the potential for a faster and more robust fusion.1,2 Furthermore, all of the company’s surface technologies are created through a reductive process and is not an additive coating, which eliminates the potential for delamination when compared to products with a PEEK-titanium interface.
About Titan Spine
Titan Spine, LLC is a surface technology company focused on the design and manufacture of interbody fusion devices for the spine. The company is committed to advancing the science of surface engineering to enhance the treatment of various pathologies of the spine that require fusion. Titan Spine, located in Mequon, Wisconsin and Laichingen, Germany, markets a full line of Endoskeleton® interbody devices featuring its proprietary textured surface in the U.S. and portions of Europe through its sales force and a network of independent distributors. To learn more, visit www.titanspine.com.
1Olivares-Navarrete, R., Gittens, R.A., Schneider, J.M., Hyzy, S.L., Haithcock, D.A., Ullrich, P.F., Schwartz, Z., Boyan, B.D. (2012). Osteoblasts exhibit a more differentiated phenotype and increased bone morphogenetic production on titanium alloy substrates than poly-ether-ether-ketone. The Spine Journal, 12, 265-272. 2Olivares-Navarrete, R., Hyzy, S.L., Gittens, R.A., Schneider, J.M., Haithcock, D.A., Ullrich, P.F., Slosar, P. J., Schwartz, Z., Boyan, B.D. (2013). Rough titanium alloys regulate osteoblast production of angiogenic factors. The Spine Journal, 13, 1563-1570.
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