First Anika WristMotion® Total Wrist Arthroplasty Surgery Performed

Rhea-AI Summary

Anika Therapeutics (NASDAQ: ANIK) has initiated a limited launch of its WristMotion Total Wrist Arthroplasty (TWA) System, aimed at alleviating pain and restoring motion in arthritic wrist joints. The first surgery was performed on June 30, 2021, by Dr. Arnold-Peter C. Weiss at University Orthopedics, Rhode Island. The system, which received FDA clearance in October 2020, replaces both the radial and carpal sides of the wrist joint. The limited launch will progress to a full nationwide launch in Fall 2021, with presentations at major orthopedic meetings.

Positive

• Limited launch of the WristMotion TWA System signifies new revenue opportunities.
• The system addresses a significant unmet need in wrist arthritis treatment.
• WristMotion TWA is expected to restore natural wrist motion, improving patient quality of life.

Negative

• Limited initial launch may restrict early revenue generation.
• Potential for slow adoption in a market accustomed to joint fusion techniques.

WristMotion Total Wrist Arthroplasty limited launch initiated

BEDFORD, Mass., July 01, 2021 (GLOBE NEWSWIRE) -- Anika Therapeutics, Inc. (NASDAQ: ANIK), a global joint preservation company in early intervention orthopedics, today announced the limited launch and first surgery performed with Anika’s WristMotion^® Total Wrist Arthroplasty (TWA) System. The procedure, which is intended to alleviate pain and restore function, mobility, and rotational freedom of an arthritic wrist joint, was completed by Arnold-Peter C. Weiss, M.D. on June 30, 2021 at University Orthopedics in Providence, Rhode Island.

“At Anika, we continue to focus on meaningful advancements in areas with unmet needs as well as market opportunities that will allow patients to remain active and engaged in the activities they love. Preserving motion and native anatomy are core pillars of our innovation philosophy and our R&D roadmap where the WristMotion TWA is a key strategic addition to our portfolio. This is another hand and wrist collaboration with Dr. Arnold-Peter Weiss, who shares our passion for innovation in this space, and has provided us a wealth of design and clinical input into products that we believe will change the treatment algorithms and improve patients’ lives,” said Steven W. Ek, Vice President of R&D at Anika. “The WristMotion System is a major advancement in total wrist replacement and further solidifies our leadership position in this market while providing an opportunity to pull through other key products in our joint preservation portfolio. We are thrilled that patients will now be able to experience the benefits of this minimally invasive, bone-sparing and motion preserving treatment for wrist pain and arthritis. It doesn’t just restore motion, it restores natural motion.”

“Patients suffering from wrist pain caused by arthritis or trauma are often treated by fusing the joint, which can severely limit a patients’ ability to move and use their wrist. The anatomic WristMotion System utilizes an innovative articulating design that reduces pain while providing patients with a greater range of motion far closer to the wrist’s normal rotational axis,” said Arnold-Peter C. Weiss, M.D., Chief - Hand, Upper Extremity & Microvascular Surgery, Vice Chairman and Professor of Orthopaedics, Warren Alpert Medical School, Brown University. “As the lead surgeon designer of the WristMotion TWA System design team, I’m pleased to have worked with the team at Anika to bring this solution to market and be amongst the first to introduce it to patients and improve their overall quality of life.”

The WristMotion TWA System, cleared by the FDA in October 2020, is a modular joint preservation system that replaces both the radial and carpal sides of the wrist joint for patients suffering from rheumatoid arthritis, osteoarthritis, or post-traumatic arthritis. The system incorporates Anika’s proven fixation technology in the central carpal taper post design, also used in the WristMotion Hemiarthroplasty system, which has been in clinical use since 2015, with over 2,600 cases performed to date¹. This system design is intended to address the concern of carpal loosening as it relates to existing systems on the market today. The WristMotion System also utilizes the Company’s dual curvature design feature in the carpal implant combined with the dorsal flange (or hood) which allows for greater range of extension due to the increased implant surface area¹. Preclinical robotic testing has demonstrated that the combination of these features provides exceptional range of motion and rotational freedom (often called “dart thrower’s motion”), consistent with the Company’s design philosophy of preserving the complex kinematics of the native joints¹. The WristMotion TWA System, along with the WristMotion Hemiarthroplasty device, provides surgeons with multiple treatment options for different stages and severities of wrist osteoarthritis.

Surgeries with the WristMotion Total Wrist Arthroplasty System will be performed as part of a limited launch in several cities including Birmingham, AL, Jackson, MS, Philadelphia, PA and Providence, RI. The full nationwide launch of the product will commence this Fall with a preview slated for the American Academy of Orthopedic Surgeons (AAOS) annual meeting in August and full market launch at the American Society for Surgery of the Hand (ASSH) annual meeting in late September. To learn more about WristMotion, please visit www.arthrosurface.com or www.anika.com.

1. Preclinical data on file. Results may not correlate to clinical performance. WristMotion Hemiarthroplasty Sales January 2015.- June 1, 2021. 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. We partner with physicians to understand what they need most to treat their patients and we develop minimally invasive products that restore active living for people around the world. We are committed to leading in high opportunity spaces within orthopedics, including osteoarthritis pain management, regenerative solutions, soft tissue repair and bone preserving joint technologies. For more information, please visit www.anika.com.

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

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c942b7d-6950-4309-8cf1-a848f3232873

FAQ

What is the WristMotion Total Wrist Arthroplasty System launched by Anika?

The WristMotion TWA System is designed to alleviate pain and restore mobility in arthritic wrist joints, utilizing an advanced modular design.

When was the first surgery using the WristMotion TWA System performed?

The first surgery was completed on June 30, 2021.

What are the expected benefits of the WristMotion TWA System?

The system is intended to provide pain relief and a greater range of motion compared to traditional joint fusion treatments.

What is the significance of the limited launch of the WristMotion TWA System?

The limited launch allows Anika to test the market and refine their strategy before a full nationwide rollout scheduled for Fall 2021.

Where will the limited launch of the WristMotion TWA System take place?

The limited launch will occur in cities including Birmingham, AL, Jackson, MS, Philadelphia, PA, and Providence, RI.