KUALA LUMPUR, Malaysia (July 2): Celularity Inc, a subsidiary of Genting Bhd, and Arthrex Inc, a global leader in minimally invasive orthopaedic technology, announced today that the two companies have formed an exclusive partnership to distribute and market Celularity’s biomaterial products for orthopaedic surgery and sports medicine. According to the terms of the deal, Celularity will offer Arthrex with exclusive commercial distribution rights for orthopaedic surgery and sports medicine, while remaining responsible for product manufacturing and delivery.
“We are overjoyed to have Arthrex, a global leader in minimally invasive orthopaedics, as a commercial partner to commercialize our placentally-derived biomaterial products,” stated Robert J Hariri, Celularity’s creator, chairwoman, and CEO.
“Each of our regenerative medicines takes advantage of the placenta’s unique features to boost the body’s natural ability to repair in a variety of clinical circumstances. We look forward to collaborating with Arthrex to expand the availability of these new products in orthopaedic surgery and sports medicine, as well as to improve patients’ lives “he stated
Meanwhile, Arthrex senior director of orthobiologics David Shepard said the company is thrilled to promote Celularity’s groundbreaking technology that takes advantage of the placenta’s unique biology.
“Our partnership with Celularity allows us to explore new potential in the orthobiologics field while staying true to our purpose of assisting surgeons in providing better care to their patients,” he said.
Arthrex is highly innovative, progressive, and committed to new product development, according to Stephen A Brigido, president of Celularity’s degenerative illnesses business.
“The two firms have strong cultural synergies because of our common dedication to medical and surgical education. The Arthrex agreement will widen the platform for deploying Celularity’s regenerative therapies in orthopaedic surgery, a market that is estimated to be worth US$1.5 billion (about RM6.25 billion) in the United States alone, according to one estimate “he stated
Genting’s share price was three sen lower at RM4.95, or 0.6 percent lower, at 10.28 a.m. today, giving it a market capitalization of RM19.17 billion./n
