Conformis Inc. (CFMS) recently came achieving another milestone in pursuit of the licensing and development agreements with Howmedica Osteonics Corp. The company has agreed upon three milestones out of which the currently achieved was the second one.
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Howmedica is a wholly owned subsidiary of Stryker Corporation which is also known as Stryker Orthopaedics. Conformis was in Development and Licensing Agreements with Howmedica to develop patient-specific instrumentation (PSI) to be used in knee transplant services of Stryker. For completing second milestone, Howmedica will pay Conformis with an additional amount of $3.00 million.
Conformis is happy to achieve second stage target, company President and Chief Executive Officer, Mark Augusti said. Company is in believes that this project will be creating value for its shareholders. The long-term distribution agreement for manufacturing and supplying PSI to Stryker will also be helpful in that. Through this agreement Conformis will better fulfill the increasing demand for efficient outpatient joint replacement, Augusti added.
Earlier in last month the company got a positive comment for its post surgery opinion in a clinical research. The study report published online in July 2020 by The Journal of Bone and Joint Surgery Reviews unveiled that 90% of Conformis customers were satisfied, or very satisfied in their 18-28 months post surgery experience. About 88% of the patients commented that they feel the knees natural-like either some or all of the time.
William Kurtz and Vivekanand Neginhal are the prominent orthopedic surgeons in the United States who carried out the clinical study in collaboration with researcher Lennart Schroeder. The research was designed to analyze that Conformis patient-specific iTotal PS (posterior-stabilized) knee replacement implants would drive larger number of patients reviews for its products specifically designed to meet the need of patients.
The researchers in their study found that survivorship for knee replacement by Conformis was 100% at an average of 23 months post-surgery. Number of such patients included in that assessment was 100.