Inside information: Bioretec's RemeOs™ biodegradable magnesium alloy composition has been allowed a patent by the U.S. Patent office

Rhea-AI Summary

Bioretec has been granted a patent by the U.S. patent office for its RemeOs™ magnesium alloy composition used in orthopedic implants. The patent covers the use of the alloy in manufacturing implants for all patient populations. Bioretec is proceeding with an international PCT application for regions outside the U.S., aiming to enhance its IPR strategy and protect its technology.

Bioretec Ltd Inside information 21 March 2024 at 7:00 p.m. EET

TAMPERE, Finland, March 21, 2024 /PRNewswire/ -- Bioretec Ltd., a pioneer in biodegradable orthopedic implants, has been allowed a patent by the U.S. patent office for its RemeOs™ magnesium alloy composition. The U.S. patent office will grant and publish the patent after the Company's confirmation.

Allowed patent concerns RemeOs™ magnesium-calcium-zinc alloy composition for orthopedic implants^[1]. The patent also includes the usage of the RemeOs™ magnesium alloy in the manufacturing of orthopedic implants or a part of such implants for all patient populations. The patented magnesium alloy material is used in Bioretec's RemeOs™ trauma screws and forthcoming pipeline products.

Bioretec is now moving forward with the application process for this allowed patent to an international PCT application covering regions outside of the United States.

"The allowance of this patent for RemeOs™ biodegradable metal composition in the U.S., which is our main target market, is an integral part of our IPR strategy and protection of RemeOs™ technology," says Timo Lehtonen, CEO of Bioretec.

Further enquiries

Timo Lehtonen, CEO, +358 50 433 8493
Johanna Salko, CFO, +358 40 754 8172

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Bioretec in brief

Bioretec is a globally operating Finnish medical device company that continues to pioneer the application of biodegradable orthopedic implants. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries. 

Bioretec is developing the new RemeOs™ product line based on a magnesium alloy and hybrid composite, introducing a new generation of strong biodegradable materials for enhanced surgical outcomes. The RemeOs™ implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The combination has the potential to make titanium implants redundant and help clinics reach their Value-Based Healthcare targets while focusing on value for patients through efficient healthcare. The first RemeOs™ product market authorization has been received in the U.S. in March 2023, and in Europe, CE mark is expected to be received during the second quarter of 2024. Bioretec is positioning itself to enter the addressable over USD 7 billion global orthopedic trauma market and to become a game changer in surgical bone fracture treatment.

Better healing – Better life. www.bioretec.com

^[1] Magnesium alloy with Ca in the range of 0.550-0.700 weight-% and Zn in the range of 0.400 - 0.700 weight-%

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SOURCE Bioretec

FAQ

What patent has Bioretec been granted by the U.S. patent office?

Bioretec has been granted a patent for its RemeOs™ magnesium alloy composition used in orthopedic implants.

What does the patent cover regarding the magnesium alloy composition?

The patent covers the usage of the RemeOs™ magnesium alloy in manufacturing orthopedic implants for all patient populations.

What is Bioretec's next step after receiving the allowed patent?

Bioretec is proceeding with an international PCT application to cover regions outside of the United States.

Who is the CEO of Bioretec?

Timo Lehtonen is the CEO of Bioretec.

What is the purpose of the RemeOs™ magnesium alloy in orthopedic implants?

The magnesium alloy is used in Bioretec's trauma screws and upcoming pipeline products to enhance surgical outcomes and accelerate fracture healing.