Aurora Spine Receives “Notice of Allowance” for Patent for Spinal Implant for Motion Preservation or Fusion

Rhea-AI Summary

Aurora Spine Corporation has received a 'Notice of Allowance' from the USPTO for its patent on the ZIPFlex, a minimally invasive interspinous implant. This innovation aims to enhance spinal surgery outcomes by allowing for either motion preservation or fusion during operations. CEO Trent Northcutt emphasized the patent's potential to differentiate the company in the market and increase shareholder value. The new product aims to fill a significant gap in spine surgery tools, reflecting Aurora's commitment to innovative solutions.

Positive

• Receipt of 'Notice of Allowance' from USPTO for a new patent.
• The ZIPFlex implant allows for motion preservation or fusion, broadening product offerings.
• Potential to differentiate Aurora Spine in the competitive spinal device market.

Negative

• None.

- New Patent will Strengthen Company’s IP Portfolio -

CARLSBAD, Calif., Feb. 07, 2022 (GLOBE NEWSWIRE) -- Aurora Spine Corporation (“Aurora Spine” or the “Company”) (TSXV: ASG) (OTCQB: ASAPF), a designer and manufacturer of innovative medical devices that improve spinal surgery outcomes, announced today that it has received “Notice of Allowance” for its patent from the United States Patent and Trademark Office (USPTO), for the invention: ‘Spinal Implant for Motion Preservation or Fusion’. This patent covers one of Aurora’s products in development, the ZIPFlex^TM, which is a minimally invasive posterior non-fusion interspinous implant for motion preservation but can be converted to act as a fusion or non-fusion device while implanted in a patient via a small attachment.

Mr. Trent Northcutt, President and Chief Executive Officer of Aurora Spine, stated, “We are delighted to receive this Notice of Allowance from the USPTO, as it demonstrates Aurora’s commitment to designing new technologies that not only differentiate us from other mainstream products on the marketplace but build upon the company’s intellectual property and patent portfolio. This patent will allow us to commercialize new products like the ZIPFlex and increase shareholder value.”

Laszlo Garamszegi, Chief Technology Officer with Aurora Spine stated, "The Aurora Team is working hard to bolster our Intellectual Property portfolio by developing innovative spine treatment solutions to improve patient care and help patients return to everyday life as quickly as possible. This patent allowance helps Aurora widen its future product offering for the non-fusion spine surgery and develop a two-in-one solution that is currently missing from the toolbox of doctors."

About Aurora Spine

Aurora Spine is focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies. Additional information can be accessed at www.aurora-spine.com or www.aurorapaincare.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurora Spine, including, without limitation, those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Information" in Aurora Spine's final prospectus (collectively, "forward-looking information"). Forward-looking information in this news release includes information concerning the proposed use and success of the company’s products in surgical procedures. Aurora Spine cautions investors of Aurora Spine's securities about important factors that could cause Aurora Spine's actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ unilaterally from those expressed in such forward-looking statements. No assurance can be given that the expectations set out herein will prove to be correct and, accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and Aurora Spine does not assume any obligation to update or revise them to reflect new events or circumstances.

Contact:

Aurora Spine Corporation

Trent Northcutt

President and Chief Executive Officer

(760) 424-2004

Chad Clouse

Chief Financial Officer

(760) 424-2004

www.aurora-spine.com

Adam Lowensteiner

LYTHAM PARTNERS, LLC

Phoenix | New York

Telephone: 646-829-9700

asapf@lythampartners.com

FAQ

What is the significance of Aurora Spine's patent for ZIPFlex?

The patent allows Aurora Spine to commercialize the ZIPFlex, enhancing its product offerings and potentially increasing shareholder value.

When did Aurora Spine announce the receipt of the patent allowance?

Aurora Spine announced the receipt of the patent allowance on February 7, 2022.

What is the stock symbol for Aurora Spine?

The stock symbol for Aurora Spine is ASAPF.

What does the ZIPFlex implant do?

The ZIPFlex implant is designed for minimally invasive spinal surgery, allowing for both motion preservation and fusion.

Who are the key executives at Aurora Spine?

Key executives include Trent Northcutt, President and CEO, and Chad Clouse, CFO.