14 April 2019 | News
Under MoU, Ortoma is free to continue discussions with companies that have headquarters outside Asia.
Ortoma has signed an exclusivity agreement under a memorandum of understanding (MoU) with a European company that has Chinese ownership interests. With the MoU, Ortoma undertakes not to initiate discussions or negotiations with other companies with headquarters in Asia until June 30, 2019. The agreement gives the counterparty the opportunity to continue evaluating Ortoma's technology and negotiating commercial terms with under a limited exclusivity.
At the beginning of the year, the companies evaluated the opportunities for collaboration to take the Ortoma Treatment Solution (OTS) to the market, not only in Asia but also in other parts of the world. The initial evaluation has been positive and the companies are now initiating in-depth evaluation of technology and commercial discussions.
Linus Bystrom, CEO, comments: "The initial discussions not only gave the potential partner the opportunity to evaluate OTS, but also gave us an understanding of their vision for the future. We are impressed by their insights in the orthopedic market and their vision for continued development. The company has a strong focus on innovation and a unique solution for customized implants. To accurately position these implants with OTS would further strengthen them and us in the market. Our visions for the future correspond very well. They are constantly looking for innovations that are at the forefront and see opportunities to take OTS to a unique position for hip joint surgery and then develop it further into other areas."