Anika Announces First Surgeries Performed Using the New RevoMotion™ Reverse Shoulder Arthroplasty System and Commences Limited Market Release in the United States

Rhea-AI Summary

Anika Therapeutics has launched the RevoMotion Reverse Shoulder Arthroplasty System, expanding its portfolio in the $800 million U.S. reverse shoulder market. The system features the industry's smallest diameter threaded glenoid baseplate, which enhances bone preservation and surgical flexibility. It aims to increase efficiency in operating rooms with streamlined instrument trays and is designed to meet a growing demand for shoulder arthroplasty procedures, projected at 200,000 for the U.S. in 2023. The limited market release is currently underway, with a full release expected in late 2023.

Positive

• Launch of RevoMotion expands Anika's share in a rapidly growing $800 million reverse shoulder market.
• RevoMotion features the smallest diameter threaded glenoid baseplate, promoting bone preservation.
• Streamlined instrument trays aim to enhance surgical efficiency and reduce costs.

Negative

• None.

RevoMotion significantly expands Anika’s shoulder arthroplasty portfolio and provides a new solution in the over $800 million U.S. reverse shoulder market

RevoMotion offers the industry’s smallest diameter threaded glenoid baseplate which preserves bone and enhances intraoperative flexibility

The system’s two streamlined instrument trays are designed to drive efficiencies, reduce OR complexity, and simplify the procedure in both the hospital and ASC

BEDFORD, Mass., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company focused on early intervention orthopedics, today announced that it has commenced the limited market release of its new RevoMotion Reverse Shoulder Arthroplasty (RSA) System, with the first surgeries performed in the United States.

The launch of the RevoMotion RSA System marks Anika’s entrance into the over $800 million U.S. reverse shoulder market, which is the fastest growing segment in shoulder arthroplasty, projected to grow at an 11% CAGR through 2026¹. With the launch of RevoMotion, surgeons can now address the full spectrum of shoulder arthroplasty procedures with Anika’s differentiated bone and motion preserving products. Current industry estimates are that there will be 200,000 shoulder arthroplasty procedures performed in the U.S in 2023 ².

Key benefits of RevoMotion include:

• Industry’s smallest diameter threaded glenoid baseplate: RevoMotion features the industry’s smallest diameter threaded baseplate³, which preserves bone and provides flexibility in positioning, all while achieving substantial fixation via a central compression screw.
• Simplified component insertion: RevoMotion’s baseplate and glenosphere designs offer unique insertion methods, allowing the surgeon to slide the components on anteriorly with a positive lock, simplifying the surgical technique and overcoming challenges of other reverse systems.
• Bone preservation and patient personalization: The system includes bone preserving glenoid and humeral designs intended to provide patient personalization via numerous humeral tray offerings which match the native anatomy, similar to other implant system designs in Anika’s Arthrosurface Joint Solutions portfolio including the flagship OVOMotion^® with Inlay Glenoid Total Shoulder Arthroplasty System.
• Enhanced efficiency for surgeons and facilities: With its two streamlined instrument trays, RevoMotion appeals to both surgeons and facilities looking to optimize efficiency. The consolidated instrumentation is both Ambulatory Surgical Center (ASC) and hospital friendly, limiting sterile reprocessing and reducing relative costs associated with more complex designs currently in the market.

“The launch of RevoMotion is a significant step forward as Anika builds on the strong foundation for our multi-year growth strategy in joint preservation, one of the highest opportunity spaces in orthopedics, and enhances the value that we can provide to surgeons and their patients in both the ASC and hospital settings,” said Cheryl R. Blanchard, PhD, President and CEO, Anika Therapeutics. “The surgeons who have used RevoMotion are excited about the bone preserving design and are seeing this play out clinically. This is truly a next generation reverse shoulder system, which we designed based on a thorough evaluation of market needs, clinical results and surgeon and patient expectations. With the launch of RevoMotion, surgeons can now address the full spectrum of shoulder arthroplasty repairs, including the fastest growing segment of shoulder arthroplasty, reverse shoulders, with Anika products. RevoMotion marks the second of three key new product launches planned for 2023/2024 and complements the momentum we already have in other recent launches. In combination with the X-Twist Fixation System, Tactoset Injectable Bone Substitute, and a full portfolio of soft tissue repair products, Anika is well positioned to serve surgeon and patient needs focused on the shoulder and rotator cuff pathology. We look forward to continuing to enhance our comprehensive portfolio of solutions to restore active living, deliver accelerated growth and increase shareholder value.”

“RevoMotion has the smallest threaded baseplate available on the market, allowing me to preserve glenoid bone stock and position the implant where I desire, with excellent fixation”, said Dr. Anthony Miniaci, M.D., Baptist Health, Boca Raton, Florida. “As I approach the humeral side of the joint, the numerous sizes of humeral trays, combined with a more anatomic fit, give me options to better address each individual patient’s unique anatomy. This immediately expands Anika’s shoulder portfolio in the fastest growing segment of upper extremities, and it’s innovation like this that truly advances patient care.”

The RevoMotion RSA System is engineered to uniquely preserve bone, while providing a personalized fit to the patient’s native anatomy. RevoMotion leverages design concepts first introduced by Anika with the Arthrosurface Joint Solutions OVOMotion with Inlay Glenoid. The OVOMotion product line provided bold, new stemless total shoulder arthroplasty concepts to the industry, including a unique, bone conserving, anatomic, non-spherical humeral head with an innovative inlay glenoid design. The RevoMotion system builds on OVO^® and OVOMotion principles of bone conservation and respecting natural patient anatomy.

“The RevoMotion Reverse Shoulder Arthroplasty System fills a vital place in Anika’s shoulder arthroplasty portfolio, which now offers the full line of solutions to meet my patients’ needs,” said Christopher Baker, M.D., Florida Orthopaedic Institute, Tampa, Florida. “RevoMotion offers significant advantages, including a 23mm diameter baseplate, the smallest threaded baseplate on the market. This allows the potential to save glenoid bone-stock and provides flexibility in positioning, allowing me to treat a variety of glenoid morphologies.”

Anika is initially offering the RevoMotion RSA System in the United States through a limited market release, with a full market release expected in late 2023.

^{1, 2} 2023E and 2022 SmartTRAK Data
³ Data on file

About Anika
Anika Therapeutics, Inc. (NASDAQ: ANIK), is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care. Leveraging our core expertise in hyaluronic acid and implant solutions, we partner with clinicians to provide minimally invasive products that restore active living for people around the world. Our focus is on high opportunity spaces within orthopedics, including osteoarthritis pain management, regenerative solutions, sports medicine soft tissue repair and bone preserving joint technologies, and our products are efficiently delivered in key sites of care, including ambulatory surgery centers. Anika’s global operations are headquartered outside of Boston, Massachusetts. For more information about Anika, please visit www.anika.com.

ANIKA, ANIKA THERAPEUTICS, REVOMOTION, X-TWIST, TACTOSET, OVO, OVOMOTION and the Anika logo are registered trademarks of Anika Therapeutics, Inc. or its subsidiaries.

Forward-Looking Statements
This press release may contain forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning the Company's expectations, anticipations, intentions, beliefs or strategies regarding the future which are not statements of historical fact, including statements about surgeon adoption and the potential success of the RevoMotion Reverse Shoulder Arthroplasty System in the future, projections about the potential growth of the shoulder arthroplasty market and procedures, and statements about the timing, geographic scope and potential success of new or expanded product launches. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks, uncertainties, and other factors. The Company's actual results could differ materially from any anticipated future results, performance, or achievements described in the forward-looking statements as a result of a number of factors including, but not limited to, (i) the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all; (ii) the Company's ability to obtain pre-clinical or clinical data to support domestic and international pre-market approval applications, 510(k) applications, or new drug applications, or to timely file and receive FDA or other regulatory approvals or clearances of its products; (iii) that such approvals will not be obtained in a timely manner or without the need for additional clinical trials, other testing or regulatory submissions, as applicable; (iv) the Company's research and product development efforts and their relative success, including whether we have any meaningful sales of any new products resulting from such efforts; (v) the cost effectiveness and efficiency of the Company's clinical studies, manufacturing operations, and production planning; (vi) the strength of the economies in which the Company operates or will be operating, as well as the political stability of any of those geographic areas; (vii) future determinations by the Company to allocate resources to products and in directions not presently contemplated; (viii) the Company's ability to successfully commercialize its products, in the U.S. and abroad; (ix) the Company's ability to provide an adequate and timely supply of its products to its customers; and (x) the Company's ability to achieve its growth targets. Additional factors and risks are described in the Company's periodic reports filed with the Securities and Exchange Commission, and they are available on the SEC's website at www.sec.gov. Forward-looking statements are made based on information available to the Company on the date of this press release, and the Company assumes no obligation to update the information contained in this press release.

For Investor Inquiries:
Anika Therapeutics, Inc.
Mark Namaroff, 781-457-9287
Vice President, Investor Relations, ESG and Corporate Communications
investorrelations@anika.com

For Media Inquiries:
Greenough
Christine Williamson, 617-922-1289
Senior Vice President
cwilliamson@greenough.biz

FAQ

What is the significance of Anika's RevoMotion launch?

The RevoMotion launch expands Anika's presence in the $800 million U.S. reverse shoulder market, emphasizing bone preservation and surgical efficiency.

When will the RevoMotion RSA System be fully released?

A full market release of the RevoMotion RSA System is expected in late 2023.

How many shoulder arthroplasty procedures are projected for the U.S. in 2023?

Approximately 200,000 shoulder arthroplasty procedures are projected in the U.S. for 2023.

What are the key features of RevoMotion?

Key features of RevoMotion include its smallest diameter threaded glenoid baseplate, simplified component insertion, and enhanced efficiency for surgeons.

What market does RevoMotion target?

RevoMotion targets the rapidly growing reverse shoulder arthroplasty market, projected to grow at an 11% CAGR through 2026.